 BUSINESS  INVESTMENT  INDUSTRY  ART  CULTURE  TOURISM  OPPORTUNITY 2013 EDITION

A COMMEMORATIVE PUBLICATION BY THE BANGLADESH HIGH COMMISSION OF SINGAPORE

cova.indd 6 18/3/2013 11:49:09 AM

The Father of the Nation Bangabandhu Sheikh Mujibur Rahman Bangladesh

Contents2013 edition

5 Message from the Hon’ble President-in-Charge 34 A Closer Look at Competitive Sectors in 7 Message from the Hon’ble Prime Minister Bangladesh 8 Message from the Hon’ble Foreign Minister 39 A Foreign Investor’s Perspective on 10 Message from the High Commissioner Bangladesh Power Sector 13 Editor’s Note 42 Ready-made Garment - A Success 14 Moving Towards a Vision Unparalleled 16 Four Years of Progress: Foundation of Vision 45 Bangladesh Workforce: Good Year for 2021 Overseas Employment 21 Singapore Minister's Visit Enhances Ties 47 Arts, Culture and History of Bangladesh 23 Adapting to the Changing Climate 51 Tourism Highlights of 24 The Future is Now - Why Bangladesh’s Time has Arrived 55 Bangladesh - a Foodies’ Paradise 28 Bangladesh Investment Summit Singapore 56 Photo Feature 30 Trade and Investment Opportunities in Bangladesh 58 Bangladesh Fact File

Chairman, Editorial Board His Excellency Mahbub Uz Zaman Members Iren Perven Badhan, Syed Mohammad Zahid Hossain, Md. Nurun Nobi, Md. Rashedujjaman, Ayesha Haq, Md. Reyad Hossain Editorial Coordinator Md. Rashedujjaman Editor Nomita Dhar Publisher Sun Media Pte Ltd on behalf of Bangladesh High Commission Writer Sushmita Bhowmick, Syed Jaafar Alkaff Media & Publications Project Manager Neha Lad Photo Contribution High Commission of People’s Republic of Bangladesh Design Valerius Reza Boenawan Marketing & Sales Neha Lad, Deepali Batra Sharma, Isaac Choo Printer Image Printers Pte Ltd Editorial Office Sun Media Pte Ltd, 20 Kramat Lane #01-02 United House (S) 228773. Tel (65) 6735 2972/6735 1907/6735 2986. Fax (65) 6735 3114 E-mail [email protected] URL www.sunmediaonline.com High Commission of the People’s Republic of Bangladesh 91 Bencoolen Street, #06 – 01/07 Sunshine Plaza, Singapore 189652 Tel (65) 62550075, 62505539 Fax (65) 62551824 URL www.bangladesh.org.sg

MICA (P) 033/03/2013

This publication has been prepared by the High Commission for The People’s Republic of Bangladesh in Singapore commemorating the 42nd Anniversary of Independence and National Day. All correspondence regarding advertising and editorial should be addressed to SUN MEDIA PTE LTD 20 Kramat Lane, #01-02 United House Singapore 228773. Opportunity Bangladesh is published by Sun Media Pte Ltd on behalf of the High Commission of the People’s Republic of Bangladesh in Singapore. The opinions, pronouncements or views expressed or implied in this publication are those of contributors or authors. The information-contained herein has been made available by the Bangladesh High Commission in Singapore, however, it does not necessarily reflect the official position of the Bangladesh authorities nor their agents or representatives. While every effort has been made to ensure the accuracy of all the information contained in this publication, the publisher cannot be liable for loss incurred in any way whatsoever by any company or person relying on the information contained herein. The aim of this publication is to guide and provide general information. Advice should be sought before taking action on specific issues. C

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our four National Leaders; valiant are imperative in this regard. freedom-fighters and organisers who The people of our country are rendered their dedicated efforts and -loving. Without making enthusiastic support that accelerated institutionalization of democracy, the the achievement of our victory. I overall development is hard to attain. also remember with deep respect the Tolerance, fortitude and respect to contributions of late Sher-e-Bangla others opinion are the pre-conditions A. K. Fazlul Haque, Huseyn Shaheed for flourishing democracy. Therefore, it Suhrawardy and Moulana Abdul Hamid is of paramount importance to maintain Khan Bhasani who inspired our people patience, forbearance at all level and at various stages for attaining country’s to be respectful to others opinion in a self-sovereignty. The contributionsdemocratic pluralism. Let us make our of those valiant sons of the soil would Jatiya Sangsad as a centre of excellence be ever written in the history of our in solving our national issues through independence. discussion. I am confident, everybody One of the prime objectives of irrespective of party affiliation would our hard-earned independence was play responsible role in fulfilling the arch 26 is our great to build a happy and prosperous hopes and aspirations of our common Independence and National Bangladesh. Keeping that in mind, people by playing their due role. Day. On the eve of the day, the Government is rendering untiring The present Government, under MI convey my heartfelt greetings and efforts in materializing the objectives the leadership of Prime Minister felicitations to the fellow countrymen of independence. With the span has declared “Vision living at home and abroad. of time, we have achieved some 2021” with a view to attaining “Golden The historic Independence Day significant progress in the field of Bangla” dreamt by Bangabandhu. I is a glorious day in our national life. agriculture, education, health, rural believe people from all strata of life We achieved our long-cherished infrastructure, communication, ICT, would contribute to build an IT-based independence through nine-month SME, youth & sports, women and happy and prosperous Bangladesh by long armed struggle and supreme children, women empowerment, materializing the “Vision” in the Golden sacrifices of millions of people. On this etc. at national level. At the same Jubilee of independence in 2021. solemn day, I pay my deep homage to time we have also attained notable On this Independence Day, I urge the martyrs who laid down their lives in advancement in corporate sector all, living at home and abroad, to work the War of Liberation in 1971. I pray to including the area of readymade unitedly imbued with the spirit of War the Almighty for the salvation of those garments, pharmaceuticals, ceramic of Liberation to expedite economic self- departed souls. and ship-building industry. The reliance and democratic advancement On this very memorable day, I recall Government is also very sincere to of the country. with profound respect The Father of The establish Rule of Law, Human Rights May the Almighty be with us Nation Bangabandhu Sheikh Mujibur in the country. Our achievement Khoda Hafez, May Bangladesh Live Rahman, who proclaimed country’s at international arena is also Forever independence at the early hours on praiseworthy. Yet, we have to go a March 26 1971. Responding to his long way for achieving the desired clarion call, the people from all walks of goals of independence and building life participated in the War of Liberation a happy and prosperous Bangladesh. H.E. Md. Abdul Hamid Advocate and achieved victory through armed I believe concerted efforts from all Hon’ble President-in-Charge struggle. I also recall with deep respect strata irrespective of party affiliation The People’s Republic of Bangladesh

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www.raffleshospital.com | www.raffleshospital.com/bengali Message from the Hon’ble Prime Minister

convey my heartiest greetings to meaningful, the spirit of our great my countrymen as well as to all liberation war should be reached to expatriate Bangalees on the occasion every nook and corner of the country. Iof the great Independence and National Cherishing the true history of the Day of Bangladesh. liberation war close to our hearts, we The 26th March is a glorious day in our would have to go ahead in achieving national life. On this great day, I pay my the objectives of the Charter of Change deep homage to the 3 million martyrs by building a Bangladesh, free from and 200 thousand women who lost their corruption, mal-governance, terrorism, innocence in the War of Liberation in hunger and poverty. 1971. The present I recall with deep gratitude the greatest government has been implementing Bangalee of all time, Father of the Nation huge development programmes in all Bangabandhu Sheikh Mujibur Rahman, sectors, including agriculture, education, under whose dynamic leadership we health, law and order, information earned our great independence. technology, energy and power and I also pay my humble tributes to communications. The defeated anti- four national leaders and the valiant liberation, communal and identified freedom fighters, who had fought against reactionary forces are trying to undo the the Pakistani occupation forces to free democratic and development process of our beloved motherland. I extend my our beloved country at a time when our sympathies to those who had lost their government had executed the verdict of near and dear ones, and were subjected Bangabandhu’s assassination case, and is to brutal torture and subjugation during holding the trial of the war criminals. the war. On this auspicious day of our I recall with gratitude our foreign independence, I urge the countrymen friends who had extended their whole- to remain united to foil the ill designed hearted support and cooperation for the plots of the anti-democratic and anti- cause of our liberation. liberation forces against the government The Father of the Nation Bangabandhu and the people. Sheikh Mujibur Rahman proclaimed the We have been striving hard to establish independence of Bangladesh at the first Bangladesh as a poverty- hunger- and hour of the 26th March, 1971 after the illiteracy-free modern Digital Bangladesh occupation forces launched sudden attack by the Golden jubilee year of our on innocent and unarmed Bangalees independence through implementing on the black night of 25th March, 1971. ‘Vision-2021’. I hope that all citizens of Bangabandhu’s proclamation was spread our country would engage themselves all over the country through telegrams, with their utmost sincerity, honesty tele-printers and EPR wireless. At each and dedication to build Bangladesh as a and every district and subdivision, prosperous and prestigious country in the Awami League leaders and workers comity of nations. publicised the declaration widely through I am confident that Insha-Allah, mikes. The international media also had with our united efforts, we would surely circulated Bangabandhu’s proclamation achieve our golden Bangladesh as of independence. Under the brave and envisioned by the Father of the Nation. dauntless leadership of Bangabandhu, we Joi Bangla, Joi Bangabandhu earned the ultimate victory on the 16th May Bangladesh Live Forever December, 1971 after a 9-month bloody war. The independence earned through huge bloodbath and sacrifice is our H.E. Sheikh Hasina people’s greatest achievement. To Hon’ble Prime Minister ensure that this achievement remains The People’s Republic of Bangladesh

Opportunity Bangladesh 7 Highest Rate of Return on Equity/Investment Message from the Hon’ble Foreign Minister

oday, Bangladesh celebrates We have demonstrated our intent and its 42nd Anniversary of her ability to forge partnerships with our glorious Independence Day. immediate neighbours and far beyond. TAs we celebrate the Day, I convey my We are deeply involved in the process heartfelt greetings and felicitations to of multilateralism, through global and my compatriots living at home and regional commitments in line with abroad. On this memorable day, I recall the policy of “Friendship to all and with profound respect the Father of the malice towards none” enunciated by Nation Bangabandhu Sheikh Mujibur Bangabandhu. Rahman, who proclaimed country’s The present government remains independence at the early hours on pledge-bound to bring the perpetrators March 26, 1971. I also pay my deep of atrocities committed during the war homage to the martyrs who laid down of liberation in 1971 to justice. The their lives in the war of liberation in defeated anti-liberation, communal and 1971 and the hundreds of thousands identified reactionary forces are trying of women who were raped by the to destabilize the country and derail the occupation Pakistani Armed forces, democratic and development process. the auxiliary forces and their local They are out to portray a negative image collaborators. of the country outside Bangladesh. I It all began with the assertion of a urge the international community to national identity in the face of systematic add their voice to the overwhelming denial, discrimination and deprivation popular demand emanating from the of that identity rooted in a millennia- people of Bangladesh and join in their old heritage of language, culture and condemnation of those found guilty of customs. It evolved through the shaping crimes against humanity, genocide and of political demands for inclusion war crimes. and equal access to opportunities, On this very special day, I take the against marginalisation of the Bangalee opportunity to thank all our officials people and their cultural essence. It and staff at the Ministry of Foreign crystallized into the 6-point demand, Affairs and our Missions abroad who a detailed manifesto for autonomy and have devoted themselves to achieve devolution. The landslide victory for the our foreign policy objectives. I also Awami League in the first ever general congratulate the Bangladesh Diaspora elections in 1970 and the refusal to hand who have been contributing to the over power by the Pakistani authorities buoyancy of the economy of their led to the non-co-operation movement country of origin as well as of their host culminating in the declaration of countries. independence by Bangabandhu when Finally, I urge all to work unitedly the genocide began. We achieved our imbued with the spirit of war of long-cherished independence through liberation to expedite economic self- nine-month long armed struggle and reliance and democratic advancement supreme sacrifices of millions of people. of the country. Cherishing the true history of the Joy Bangla, liberation war, the present government Joy Bangabandhu. has made giant strides to achieve the objectives of Charter of Change which will lead to Bangabandhu’s `Sonar Bangla’ - the Golden Bengal. We can H.E. Dr. Dipu Moni, MP visualize a middle-income, digital Hon’ble Foreign Minister knowledge based Bangladesh in 2021. The People’s Republic of Bangladesh

Opportunity Bangladesh 9 Message from the High Commissioner

remittances in 2012. through a number of agreements In Bangladesh, a dynamic and huge and instruments over the years. The societal transformation is taking place. agreements venture in diverse areas. Infusion of Micro Credit and extension At the political plane, Bangladesh has of non-formal education has made a reiterated time and again that it values positive impact in the empowerment its relations with Singapore. I am of women. We are on the right track positive that we can work out a visit at to meet most of the Millennium an appropriate level from both sides. Development Goals (MDG). This will give a further boost to our Bangladesh is strategically located bilateral relations in the region. Our Prime Minister has The cooperative spirit of our aptly said “Situated between South and relationship has brought the two South East Asia and close to India and countries closer. Bangladesh and China, Bangladesh is destined to be a Singapore are members of the UN and regional economic hub. Development other regional bodies and have similarity of multi–modal connectivity with our of views on various international issues. neighbors - once fully implemented We are happy to observe that with n the occasion of the 42nd - will make Bangladesh a center of mutual basis of understanding we have Anniversary of Independence bustling economic activity in the region. worked together on issues of common and National Day of the People’s Since Bangladesh became concern within these organisations. ORepublic of Bangladesh, I convey my independent, the ties between our Singapore is an important trading heartiest greetings and warm wishes to two countries have been gradually partner of Bangladesh. However, His Excellency, Dr Tony Tan Keng Yam, expanding and have acquired greater the trend and volume of bilateral Honourable President of the Republic depth and dimension. Our Minister trade is far below its potential. It is a of Singapore and to the Government of for Foreign Affairs Dr Dipu Moni, positive thing that the volume of trade Singapore and its friendly people. MP was in Singapore in June 2012 between Bangladesh and Singapore is This is a day of remembrance leading the Bangladesh Delegation to increasing. In FY 2011-2012, according when we recall the supreme sacrifices the Shangri La Dialogue. During the to statistics, Singapore exported to and pay our deepest homage to the visit she met the Honourable Defence Bangladesh US$2.17 billion worth of martyrs. On 26th March 1971 the Minister of Singapore and had fruitful goods and imported from Bangladesh Father of the Nation Bangabandhu discussions with him. She reiterated US$179.23 million worth of goods. Sheikh Mujibur Rahman proclaimed the long standing historical ties and Singapore’s exports comprises refined the independence of Bangladesh. Our close links Bangladesh enjoys with petroleum products, apparel and people waged a relentless struggle Singapore during the discussion. She textiles machineries, electronics and for nine months in which over three also conveyed our sincere intention and parts thereof, telecommunications million people sacrificed their lives. desire to enhance the bilateral co- equipments, computers, synthetic Finally, we achieved victory on 16th operation between our two countries in organic dyes, and ship and boat December 1971. Bangladesh became various fields. structures. Bangladesh’s exports an independent and sovereign member The visit to Bangladesh by the comprise textiles and apparels, steel among the comity of nations Singapore State Minister for Foreign products, rice, seafood, copper and Since independence Bangladesh Affairs Mr Masagos Zulkifli in jute products. has made significant strides. It has September, 2012 further cemented We have been very much encouraged impressive statistics that speaks for our bilateral relations. As a follow at the response that we received at the itself. Since 2000, Bangladesh’s GDP has up to the visit, a business delegation Bangladesh Investment Summit held in grown at an average rate of six percent. from Singapore is expected to visit Singapore in December 2012. We have Rice production has tripled over the last Bangladesh soon for business and in mind organising a similar event in 30 years. The poverty rate has declined trade promotion. December 2013. We are also in close by over 10 percent over the past decade. . Our political relations are gradually contact with IE Singapore and would In 2011, our GDP was worth US$110.61 getting better. I am happy to note that like increased participation of Singapore billion. The GDP value of Bangladesh bilateral relations between Bangladesh exporters and businesspersons at is roughly equivalent to 0.18 percent and Singapore are now based on a the Dhaka International Trade Fair of the world economy. Our expatriate firm footing. Our relations have been which is usually held in January – workers repatriated US$14 billion of consolidated and institutionalized February each year. In April 2013, we

10 Opportunity Bangladesh His Excellency Mahbub Uz Zaman presents his credentials to the Honourable President of Singapore on 25 October 2012 are organising a Trade and Investment to the growth of Singapore. Many of Singapore would get to know more Seminar in Singapore with the support entrepreneurs from Singapore have thus about Bangladesh. of IE Singapore, the Singapore Business engaged Bangladesh nationals in their Bangladesh High Commission in Federation and the Ministry of Trade. industries and service sectors. Most of Singapore remains committed towards The Finance Minister of Bangladesh is them are employed in ship building and promoting bilateral relations between expected to deliver the keynote speech. construction sectors. The remaining Bangladesh and Singapore, deepening Foreign investors including those Bangladeshis are doing professional and strengthening trade business and from Singapore enjoy multiple jobs. Among the professionals, they are investment between the two countries protections and incentives. There are mostly mariners, followed by engineers, and extending support and providing safeguards and guarantees for protecting bankers, management consultants, consular and welfare services to foreign investment in Bangladesh. The and university and polytechnic expatriate Bangladeshis country having a low cost production faculty members. Bangladeshis are Long live Bangladesh- Singapore base presents itself as an ideal also involved in business as well. The friendship. destination for foreign investment. We Bangladeshi community in Singapore are pleased to note that Singapore has is socially much active. Throughout the H.E. Mahbub Uz Zaman significant investments in Bangladesh. year, they celebrate festivities with much High Commissioner for It has net investments of around US$700 pomp, splendor and gaiety. The People’s Republic of Bangladesh million in Bangladesh. Companies from We would like to wish a healthy and in Singapore Singapore have invested in telecom, prosperous future for Singapore. Robust textiles, electrical and electronic goods, economic growth for Singapore will also knit ware, readymade garments, LPG have a beneficial impact on the healthy bottling, construction, industry, radio/ growth of the region. When the world tv/vcd assembling, chemicals and fish is getting more integrated through the The cooperative processing process of globalisation there is the need We would like to deepen our for Asian countries like Bangladesh and relationship with Singapore in the Singapore to cooperate more closely. spirit of our area of investment. There are ample In conclusion, I must thank the opportunities for joint venture management and staff of Sun Media investment between the two countries in led by Nomita Dhar, who through relationship has areas like food processing, information their untiring efforts made it possible and communication technology, light to bring out this volume. The editorial engineering, tourism development, ship board of Opportunity Bangladesh brought the two building etc. also needs to be commended. It is my I am happy to note that workers from fervent hope and belief that through the countries closer. Bangladesh through their sincerity, information provided in Opportunity hard work and labour are contributing Bangladesh 2013 edition the people

Opportunity Bangladesh 11

Editor’s Note

angladesh is celebrating 42 Opportunity Bangladesh has years of independence and touched upon the ethos of the nation. commemorating this occasion Bangladeshi’s are very warm people Bwe present the 14th edition of and no other way than this warmth is Opportunity Bangladesh. The young better expressed than their penchant nation is progressing steadily but for hospitality. Blessed with nature’s surely towards the dream of ‘Sonar bounty, the tourism sector has Bangla’ (golden Bengal), as described extensive potential that is just waiting by Rabindranath Tagore, one of her to be tapped. This issue covers the most illustrious sons. lush green tropical forests of Sylhet As has been our endeavour in Highlands, one of the most virgin and the past, this issue too showcases incredible destinations. ‘happening Bangladesh,’ in myriad The new Bangladesh is empowering hues. The Bangladesh Investment itself with digital connectivity, Summit in Singapore on 4 December information accessibility and a free 2012 brought the opportunities of mass media. Read about how the this vibrant economy to 300 business country is implementing ICT as a tool leaders from across Asia’s Sovereign to eradicate poverty, establish good Wealth Funds, Family Offices, Public governance and ensure social equity and Private Pension Funds, bankers through quality education, healthcare and other potential financial investors. and law enforcement. Climate change A decade of sustained improvements is a major issue for the country and in macro indicators such as per capita this issue covers the initiatives that income (which has more than doubled), Bangladesh has taken to mitigate the poverty levels (which have declined) situations arising from climate change. and annual economic growth (which Bangladesh is progressing on a has risen), especially during the past five focused path with time-bound targets. years, has established the confidence of In an exclusive interview with the foreign investors in the country. Bangladesh Foreign Minister, HE Dr This edition covers all this and Dipu Moni, MP, we have traced the how supported by a youthful and government plans in making ‘Vision flexible population all sectors of the 2021’ a reality. economy have shown remarkable This issue presents the untapped growth. Learn about the prospective opportunities in Bangladesh and reflects long-term investment sectors, which how both Singapore and Bangladesh now include not only the traditionally can benefit from mutual advantages. strong sectors such as infrastructure We wish all Bangladeshis a very Happy (communication, transport, power and National Day. oil and gas), textiles, leather goods, Happy Reading pharmaceuticals and shipbuilding but also the booming telecomm equipment manufacturing and infocom services, Nomita Dhar automobiles and tourism. Editor

Opportunity Bangladesh 13 interview

Moving Towards a Vision

Bangladesh Government’s vision for the future showcases the pro- development focus of its leaders, reflected here by the views expressed by Foreign Minister Dr Dipu Moni, MP

n the occasion of the 42nd Victory to pay respect to the martyrs of our War human resource, which foreign investors Day, Bangladesh invited a select of Liberation. It strengthens our faith in can tap. group of foreign media personal our people, our capacity to excel, our Ofor ‘An Evening of Remembrance,’ in determination to achieve the goals and Sun Media: How is Bangladesh Dhaka. Her Excellency, Dr Dipu Moni, the heights we can reach as a nation. positioning itself in the global context? MP, Foreign Minister of Bangladesh, Dr Dipu Moni, MP: We are working elaborated on her government’s future Sun Media: Bangladesh is poised for towards ‘Vision 2021’ our blueprint of the agenda for the holistic development of growth. How would you describe the next decade. The government is steering the country. A qualified doctor, and the present situation? the economy towards an export-oriented top diplomat of the country, Dipu Moni, Dr Dipu Moni, MP: JP Morgan growth and an investment climate MP, spearheads the country’s regional and and Goldman Sachs in their respective conducive to foreign investors. Besides global foreign policy issues and economic reports, ‘Frontier Five’ and ‘Next 11,’ creating a democratic environment and social development matters with has included Bangladesh as one of and promoting accountability in the vision and dynamism. the country’s that is fast becoming an government, Vision 2021 will aim to In an interview with Valerius R attractive investment and business eliminate corruption and terrorism, Boenawan from Sun Media, she shares destination. We have maintained an eliminate illiteracy by 2014, progressively her thoughts about the country’s past, average GDP growth rate of six per cent, reduce poverty by 2021, and go for present and future; excerpts from the even with a global economic meltdown, complete digitalisation and a knowledge- interview. and are experiencing a growth in based economy manned by an IT literate manpower export and manufacturing. workforce. Sun Media: Your Excellency, please We have achieved near self-sufficiency in We have settled the issue of our share your feelings on Bangladesh food production. maritime boundary with Myanmar and celebrating her 42nd Victory Day. With approximately 57.3 per cent of are in the process of doing the same Dr Dipu Moni, MP: Bangladesh the population under the age of 25, we with India by 2014. We have made celebrates her Victory Day on 16 have a demographic window opening up huge investments in priority sectors December; this day is an occasion for us in terms of young, skilled and industrious such as power and energy. We have

14 Opportunity Bangladesh interview

Vision 2021 will aim to eliminate income. The Board of Investment corruption and terrorism, eliminate has simplified the procedures for processing investment proposals and illiteracy by 2014, progressively reduce projects, and renders continuous regulatory reforms counseling to poverty by 2021 the government for achieving the stated objectives. Special economic zones give foreign investors immense established ourselves as a peace-loving Dr Dipu Moni, MP: In our bid to relaxations in terms of tax holidays. country, always in the forefront of peace- empower people we have established the building initiatives. We have set a new National Information Commission, the Sun Media: As the foreign minister development paradigm for others, who National Human Rights Commission, the what is your Excellence’s message are in a comparable situation. The Prime Ant-corruption Commission, all strong to Singapore and the world about Minister had presented her People’s and independent bodies that bears witness Bangladesh? Empowerment and Development Model to our democratic spirit. For the first time Dr Dipu Moni, MP: We are building at the UN and it was recognised as a in our political history we have a powerful the foundation of a responsible democratic viable concept for international peace Parliamentary Standing Committee, free country. Today you are here and you have and development. to question any minister. The education witnessed the process. We want to learn sector has experienced a sea-change in from your experience, to tell us the gaps Sun Media: Are the women of the terms of modernisation and reach. There that you think we should deal with. At the country part of the future development? is Internet connection almost to the same time we want you to take the story Dr Dipu Moni, MP: A glance at village level. A National Education Policy of our achievements to your own country the government will tell you how has been established to ensure quality of and to the world and show them that the eager and keen we are about women education at all levels. ‘future is here and now.’ empowerment; the PM, the leader of opposition, the Foreign Minister, are just Sun Media: What are the plans Victory Day Honours a few of the women, who today showcase for attracting more Foreign Direct Sixty ‘foreign friends’ were Bangladesh internationally. There is 30 Investment (FDI)? honoured for their outstanding per cent representation of women in Dr Dipu Moni, MP: In South Asia, contributions during Bangladesh’s our parliament. We are taking the rights Bangladesh offers the most liberal War of Liberation. On the occasion, steps in the right direction. and open FDI regime with no prior Prime Minister Sheikh Hasina said, approval requirements or limits on “Your help had accelerated the defeat Sun Media: What steps are being equity participation and repatriation of the occupational forces in 1971.” taken towards empowering the people? of capital, dividends, profits and

Prime Minister Sheikh Hasina and Foreign Minister Dr Dipu Moni, MP in a tribute along with the some of the survivors of the Friends of Liberation War Honour celebrations

Opportunity Bangladesh 15 moving ahead Four Years of Progress Foundation for Vision 2021

Father of the Nation, Bangabandhu Sheikh Mujibur Rahman, dreamt of a ‘Golden Bengal.’ The present government has set a unique vision for the nation; to be a middle-income country by 2021, the 50th year of independence. The vision of ‘Golden Bengal’ has been rebranded as ‘Digital Bangladesh.’

nder the able leadership of of the country’s population now own on setting up industries. Real foreign Prime Minister Sheikh Hasina, mobile phones. Today, communication investments during the three year the country is put right on over the internet exceeds paper period of 2009 to 2012 have been over Uthe track defying the global economic correspondences. Video conferencing US$2.85 billion. Twenty-five projects crisis. Bangladesh is advancing towards or conversing with the help of have been selected for implementation fulfilling Millennium Development applications like ‘Skype’ has become an under Public Private Partnership (PPP) Goals (MDGs) related to poverty ordinary affair. Social communication Policy 2010. alleviation, gender equality and health networks like ‘Facebook’ is now hugely and education. popular in Bangladesh. Such expansion Economic Growth of using information technology Bangladesh has been included Digital Bangladesh and unthinkable success are seen among the world’s top five countries in Among other fields, the activities everywhere. terms of economic growth, achieving of the present government has laid an average growth rate of 6.38 per cent a strong foundation to fulfill the BEPZA Role Expanded during the past four years. The foreign vision of a ‘Digital Bangladesh’ by The role of Bangladesh Export exchange reserve stood at US$12.3 the year 2021.To bring the benefits of Processing Zones Authority (BEPZA) billion. Various rules have been information technology to as many of has been strengthened for quick amended for consolidating the capital its citizens as possible, the government expansion of the industrial sector. market and special schemes have been has expanded bandwidth capacity Work on two private EPZs called formulated for upholding the interests and being the main porter of the Rangunia and Korean EPZ is in of small investors. Internet, it has reduced its price by progress in addition to the 8 EPZs at The rate of inflation currently about 70 per cent. The government has , Dhaka, Mongla, , hovers around 7 per cent as a result rendered digital facilities starting from Ishwardi, Uttara (Nilphamari), Adamji of measures taken for controlling digitizing the delivery and payment and Karnaphuli. Various financial and inflation. Gender budgeting has been (purji) system of sugarcane growers to non-financial incentives are offered introduced in 25 ministries. Pledges different other services like agricultural to industrial establishments set up in for foreign assistance worth US$14,895 information, healthcare information, the EPZs. During 2011-12 financial million have been made, of which educational information, admission year, 409 industrial units having around US$6,977 million have been and examination results of educational owners from 37 countries exported released. Measures have been taken for institutions up to the union and commodities worth US$4.21 billion, extension of credit facilities to women individual levels. District information which is around 17.24 per cent of total entrepreneurs and small and medium portals and one-stop service centres national exports. industries. Some new banks are being have been established in all districts. The Board of Investment continues set up for taking the banking services Arrangement has been made to pay to play an important role in increasing to the rural areas. electricity, gas and phone bills through investments in the country by mobile phone. Railway tickets can also be promoting industrial investments and Sixth Five-Year Plan purchased through mobile phone. Half rendering policy and advisory services A medium term sixth five-year plan

16 Opportunity Bangladesh moving ahead

have been formulated and approved resistant to salinity, water-logging and Environment & Patent in the light of a 10-year perspective drought; high yielding and hybrid Regulations plan (2010-21) for achieving the varieties of different crops including National Industry Policy 2010 has goals of Vision-2021. The plan has wheat, potato, mustard, vegetables, been announced. Rules for environment incorporated themes like poverty fruits, spices, etc.; and 75 improved friendly shipbreaking and recycling alleviation, employment generation, crop management techniques. The have been adopted. The government power and energy, education, health, government has bolstered the seed has ensured a steady supply of fertilizers food security, communication, distribution programme at the farmers’ and construction of yearly five lac 80 urbanisation, climate change, Digital level, increased subsidy in agriculture thousand metric tons capacity Shahjalal Bangladesh, etc. A total of 759 projects and is disbursing agricultural credit at Fertilizer Industry has been started. with financial outlay of Taka 388 a reduced interest rate. Digital sugarcane buying order e-purji thousand crore have been approved system has been introduced to prevent during the past four years. Besides, Infrastructure wastage of the sugarmills, bringing the Planning Minister approved 212 Improvements transparency in buying. Patent, Design projects having financial outlay of Taka A number of important bridges and Trademarks Law 2009 has been 3,824 crore. including Teesta Bridge, Abdur Rab passed to protect intellectual property Serniabat Bridge, Sultana Kamal and ownership. National Salt Policy Training and Education Bridge, Shah Amanat Bridge, Shaheed 2011 has been adopted. An international Initiatives have been taken for Bhuddhijibi Bridge, Bamna and standard Metrology Institute has been establishment of technical schools in all Thanchi Bridges have been built. The established at the BSTI headquarter and setting up of 25 polytechnic Banani Railway Overpass, Ahsanullah building. institutes including four for women. Master Flyover and the flyover Bangladesh University of Professionals, linking Chittagong Port have been International Diplomacy Begum Rokeya University in Rangpur inaugurated. Work is in progress on Bangladesh-Myanmar maritime and Bangabandhu Sheikh Mujibur Mirpur-Airport Road Flyover and up- boundary has been settled Rahman University in Gopalganj have gradation of some important highways permanently by the historic verdict of been set up. Work is underway to set into four-lane ones. A route has been the International Tribunal for the Law up Rangamati University, Rabindra finalised for the metro-rail. of Sea as a result of timely initiatives University in Shilaidaha, Digital taken by the government. Other issues University at Kaliakoir, Maritime Health Facilities Expanded like identifying borders with India, University in Anwara, Marine The Ministry of Health and Family customs-free access of Bangladeshi University in and Agriculture Welfare reports that 45 thousand goods to India and keeping Three- University in . employees have been appointed Bighah Corridor open round the clock The rates of literacy are now 59.4% including 5,730 doctors; 12,203 for allowing uninterrupted movements (7+ years) and 62.9% (15+ years). community clinics have been made to Dahagram-Angorpota have also Implementation of the project to build functioning and about 12 crore people been resolved. Through the tours of primary schools in 1,500 villages without have received services from these the Prime Minister to China, Japan schools has started. A total of 86,275 clinics. National health policy has and Myanmar, the friendly relations of headmasters and assistant teachers been adopted, and national population Bangladesh with these countries have have been recruited. Computers with policy 2012 and anti-tobaco law have been enhanced. internet have been supplied to 1,109 been approved. Eight new hospitals field-level schools and laptops with have been constructed and 21 more Support for Science & multimedia have been provided to 503 are under construction. Four new Technology model primary schools. government medical colleges, seven For research in science and nursing colleges and 12 nursing technology 931 scientists have been Aid for Farmers institutes have started functioning. given grants of about Taka 49 crore and After assuming office, the government halved the price of non-urea fertilisers and reduced its price by 70% to 78% in three stages. Bangladesh has been included Around 10 million farmers were given agricultural input assistance cards among the world’s top five countries in and 9.50 million farmers could open bank accounts by depositing Taka 10, terms of economic growth, achieving which were used for providing them financial assistance. Different research an average growth rate of 6.38 per cent institutes of the ministry invented high yielding varieties of rice that are

Opportunity Bangladesh 17 18 Opportunity Bangladesh moving ahead

2,921 students of Masters, M.Phil. and mobile phone services. Throughout on. Flights have been restarted flying in Ph.D. have been awarded fellowship of the country electronic money order the and Syedpur routes. Two about Taka 20 crore. 189 persons have service has been set up in 2,750 post new generation B-777-300 ER aircrafts been given opportunity to persue MS, offices and postal cash card service has have been bought and there is an order Ph.D. and Post-doctoral research and been introduced in 598 post offices at for two more. study in home and abroad under the divisional towns. Bangabandhu Fellowship project. More The activities of establishingN ational Service Programme than one agreements have been made e-centres in eight thousand village post for Youths with Russian Federation to implement offices have been started. The activities A ‘National Service Program’ has atomic electricity project at Ruppur. An of bringing one thousand union been undertaken to create temporary international standard modern research councils under optical fibre network employment for the educated centre has been established in BCSIR. have been started. Already, optical fibre unemployed youths; 56,054 young Different testing facilities necessary cable and transmission machines have people have been employed for two for getting opportunity of access of been set up in 108 unions. Telephone years. The international image of produced goods in international market Shilpa Sangstha is marketing laptop, Bangladesh as a successful organizer have been created here. notebook, netbook through installation was enhanced by staging the SAF and production. Manufacturing and Football Championship 2009, South Broadband Penetration marketing of optical fibre cables have Asian Games 2010 and the World Cup Broadband internet service has been been introduced in the country. Cricket 2011. In the 16th Asian Games added to telephone lines providing Cricket Bangladesh earns first gold internet services at a reduced rate Tourism Takes Off medal. Bangladesh Women Cricket to use it simultaneously with phone An specialized tourism zone is being Team achieves One Day status at the services. Now tele-density is 66.37% made in Teknaf. National Tourism Policy international cricket to become history. and internet density 20.28% in the 2010 has been formulated. Bangladesh Bangladesh bags 18 gold medals in the country. The bandwith capacity has Tourism Board has been formed. SA Games, 27 gold medals in the 3rd been increased to 200 gbps. Teletalk Machine management system has been Indo-Bangladesh Games and 37 gold mobile service has been introduced in modernized in all airports including medals in the Special Olympics held in three hill districts. Teletalk Bangladesh development of cargo scanning system. Greece. The country earned gold medals Limited has started experimental The activities of making Cox’s Bazar in shooting, tae kwan do, archery, commercial use of 3-G technology Airport international standard are going gymnastics, golf and beach football.

bilateral ties

His Excellency Masagos Zulkifli, Singapore’s Senior Minister of State for Foreign and Home Affairs Singapore Minister’s Visit Enhances Ties

Bangladesh - Singapore bilateral relations are being intensified through high-level state visits and economic co-operation and investment ties

elations between Bangladesh He was accompanied by the Singapore can use to its advantage. On and Singapore have made High Commissioner of Singapore to the other hand, Singapore’s position as great progress in recent years. Bangladesh Mr Chan Heng Wing and a commercial hub in South-east Asia RIncreasing trade and investment with other officials from the Foreign Affairs and its emergence as a major re-export Singapore, is a core part of this relation. Ministry. Apart from calling on the centre can benefit Bangladesh. Bilateral trade between the two countries political leadership, he also met with is now over S$1.7 billion. Singapore is the local business community in Dhaka. Sharing Singapore Model also the 9th largest investor in Bangladesh Speaking at a meeting with the leaders In spite of Singapore’s small size with net investment exceeding US$1 of Metropolitan Chamber of Commerce and lack of natural resources, it has billion. Several high-level visits have and Industry (MCCI) in Dhaka, Mr successfully established itself in trade, taken place between the two countries, Masagos, said, “The world today has commerce, industry, tourism, good which have further strengthened the decided to go for the ‘China plus one’ governance, law and order, transport cordial relation. Last year also saw the strategy. Everyone is looking beyond and housing development. Minister High Commissioners of both countries China for investment due to the rising Masagos invited entrepreneurs and presenting their credentials. production cost there, and Bangladesh businessmen from Bangladesh to visit could be such a place.” Singapore and observe the working of Presenting Credentials At a meeting with the Foreign the economy in person and also take The High Commissioner of the Minister, Dr Dipu Moni, MP, topics advantage of the liberal trade policies. People’s Republic of Bangladesh, to discussed included trade promotion, Singapore, His Excellency Mahbub exchange of knowledge, transfer of Shift in Focus Needed Uz Zaman presented his credentials technology and export of human The Singapore Senior Minister of to President Tony Tan at the Istana resources. Both ministers agreed on State also met the Prime Minister on 25 October 2012. Some months an early conclusion of a shipping during his visit. The Prime Minster said back, on 8 March, the non-resident agreement between the two countries, during the meeting that Singapore is a High Commissioner of Singapore to to facilitate trade. The minister also major trading partner but the balance the People’s Republic of Bangladesh, promised to look into the easing of visa of trade is heavily tilted in favour of His Excellency Chan Heng Wing, for students, tourists and relatives of Singapore; Bangladesh’s imports from had presented his credentials to the Bangladesh PRs in Singapore. Singapore amounted to nearly US$1.7 President of Bangladesh Md Zillur The Singapore Minister met with the billion while exports accounted for Rahman in Dhaka. Following the various business chambers in Bangladesh only US$179.23 million, in 2011-12. presentation, HC Chan had met the such as the International Chamber of Prime Minister Sheikh Hasina Bangladesh Minister of Foreign Affairs Commerce, Bangladesh (ICCB) and specifically urged the Singapore Dr Dipu Moni, MP. MCCI. Highlighting the advantages in Government to recruit more skilled and Bangladesh, MCCI President Amjad semi-skilled workers from Bangladesh, Fruitful Visit Chowdhury mentioned that a number especially for the hospitality and Mr Masagos Zulkifli, Singapore’s of policy measures, market reforms, service sectors, and to import more Senior Minister of State for Foreign deregulation, privatisation and special Bangladeshi products particularly and Home Affairs visited Bangladesh economic zones were happening, to from the pharmaceutical, ceramics and last September with a high-level attract FDI. garments sector. delegation. In Dhaka, he called on Also, Bangladesh as a least developed She also said that Singaporean Prime Minister Sheikh Hasina, and country (LDC) had duty-free and entrepreneurs should invest more in met the Minister of Foreign Affairs Dr quota-free access to markets in the Bangladesh and that the government Dipu Moni, MP, and Minister of Home European Union, Canada, Australia, will give every support to foreign Affairs Shahara Khatun. Japan and New Zealand, which investors.

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Best wishes to Bangladesh and its people on the 42nd Anniversary of Independence

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BLCF Bangla School is located at Zhangde Primary School, 51, Jalan Membina, Singapore 169485 Contact: 9297 3593 | Email: [email protected] | Website: http://blcfonline.com highlights

Adapting to the Changing

Dr Hasan Mahmud, Honourable Minister, Climate Ministry of Environment and Forests

Bangladesh is increasing the climate resilience of its people and infrastructure by taking innovative and bold steps such as the BCCRF

limate change is an important activating the Green Climate Fund. DARA to develop the Climate issue for Bangladesh and the Although the developed countries Vulnerability Monitor (2nd edition), country is looking at the future pledged US$30 to 32 billion to the affected which estimates human and economic Cin all preparedness. The World Bank countries, the amount was negligible, felt impacts of climate change. showcased the success of the Bangladesh all the vulnerable countries. Climate Change Resilience Fund The positive outcome of Doha was Innovative Approach (BCCRF) in building up people’s resilience the agreeing to the ‘principle of loss and Bangladesh has adopted an to climate change, at the UN Climate damage,’ which opened the door for innovative approach to ‘climate Summit, held in Doha in December last further talks at CoP 19 in Poland. finance,’ by establishing a multi- year. Present on the occasion Dr Hasan donor trust fund to channel Mahmud, Honourable Minister, Ministry Facing it Head On international climate finance to of Environment and Forests, Bangladesh, Over the last decades, the domestic priorities. said, “Despite being vulnerable to all government has invested more than The Bangladesh Climate Change negative impacts of climate change, US$10billion in strengthening river Resilience Fund (BCCRF), with the Bangladesh have showed the world how embankments, building emergency support of development partners USA, to live with disasters.” cyclone shelters and developing world- Australia, Switzerland, Denmark, EU, World Bank’s Country Director Allen class community-based early warning UK and Sweden, aims at strengthening Goldstein said, “Bangladesh has made systems. The Bangladesh Climate the resilience to climate change. The significant progress through the BCCRF Change Strategy and Action Plan government decides the projects to be in helping vulnerable people to adapt (BCCSAP) was adopted in 2009, as a funded and the World Bank plays the to the effects of changing climate. It’s a comprehensive document that gives role of trustee. BBCRF has channeled unique example of working together to the directions for priority adaptation, US$170 million in grant funds, till implement a country driven process with disaster-risk reduction, low-carbon date. the support of development partners.” development, mitigation, technology transfer, mobilisation of resources The way forward is not easy and Bangladesh at Doha and more. A US$350 million Climate mitigation by all countries based At Doha, Bangladesh demanded an Change Trust Fund was created by the on equity, common but differential increase in the long-term assistances government despite other development responsibilities (CBDR), commitments by the developed countries to the priorities. The country is active on to the Kyoto Protocol (40 to 45 per cent least developed countries (LDCs) as global platforms such as G77 and is now emission reduction from 1990 levels by compensation for the climate risks. chairing the Climate Vulnerable Forum 2020) needs to be met. Climate change Bangladesh also demanded expanding (CVF). Bangladesh along with other is every country’s problem, as it is the the timeframe of Kyoto Protocol and vulnerable countries has commissioned sustainability of the planet that is at stake.

Opportunity Bangladesh 23

investment Courtesy of AsianInvestor of Courtesy

His Excellency Mahbub Uz Zaman, High Commissioner of Bangladesh, Singapore The Future is Now - Why Bangladesh’s Time has Arrived

HE High Commissioner Mahbub Uz Zaman‘s closing address at the Bangladesh Investment Seminar 2013 in Singapore outlines how the country is ready to receive investments

angladesh has made significant Duty- and Quota-free access investment in accelerating the pace of strides and the statistics speak Under the Everything but Arms Bangladesh’s industrial development. for themselves. Since 2000, Initiative (EBA) announced at the Recently the Financial Times, a BGDP grew at an average rate of six per Third Conference for London based FDI magazine, has cent. Rice production tripled over the Least Developed Countries in Brussels, ranked Chittagong Export Processing last 30 years, while the poverty rate EU is providing duty- and quota-free Zone (CEPEZ) as the Third Best Cost has declined by 10 per cent over the access of products to EU. Canada, New Competitive Zone in the world and the past decade. Zealand, Japan are also providing Duty Fourth in the Best Economic Potential In 2005, our GDP was 23,000 Free Access. India and other countries for 2010-11. (FDI Magazine of the crores taka and in 2011 it rose to 1 lac provide a competitive edge to investors Financial Times, London, June-July, 18 thousand crore taka. According to in Bangladesh. 2010 issue). the World Bank, the GDP was worth The level of political commitment Foreign investors enjoy multiple US$ 110.61 billion in 2011, roughly comes from the highest level. According protections with the Bangladesh Export equivalent to 0.18 per cent of the world to our Prime Minister, “We’ve also Processing Zones Authority (BEPZA). economy. This year it will be around 1 adopted a Public-Private-Partnership The Foreign Private Investment lac 50 thousand crore to 2 lac crore taka. Policy (PPP) to build infrastructures (Promotion and Protection) Act secures In 2005, the price for rice was 22- such as highways, mono-rail, railroads, all foreign investment in Bangladesh. 26 takas per kilo and now it has been power stations, a deep-sea port and an As a member of OPIC’s (Overseas fairly stabilised at 25-40 taka, in spite of international airport. In addition, we are Private Investment Corporation, USA) worldwide rise in prices. establishing six special economic zones in insurance and finance programmes Our foreign exchange reserves were different areas with all facilities to attract operable in Bangladesh as well as in 200-300 crore dollars in 2005 and in Foreign Direct Investment (FDI).” the EPZs. Bangladesh is a member of year 2012 it averaged around 900-1200 Multilateral Investment Guarantee crore dollars (US$9-12 Billion). Attracting the Agency (MIGA), which provides Back in 2005 we did not even have Right Foreign Investments safeguards and security under gold reserves but now we have 10 tons The Government attaches great international law. The International of gold in the Gold Vault. importance to the role of foreign Centre for the Settlement of Investment

24 Opportunity Bangladesh investment

ROBUST EXPORT GROWTH

30

24.3 25 22.9

US$ 20 15.6 16.2 15 Export have increased by 405% in the past14.1 10 years

Billion Billion 12.2 10.5 8.7 7.6 6.0 6.5 5

0 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12

Dispute (ICSID) also provides an and narrow down the budget deficits. additional means of remedy, while Another important aspect is to raise Since 2000, copyright interest are protected the education standards and up grade through World Intellectual Property human and technological resources. GDP grew at an Organization (WIPO). The World Bank Private Sector Encouragement: has ranked Bangladesh 20th out of 187 The Government understands that the average rate of nations for investors’ protection, making private sector has to be in the driving it as the best in South Asian Region. seat if trade is meant to be the engine six per cent. Rice (Doing Business, 2010). of growth. Broad-based privatisation BEPZA has successfully established programs are being put in place. production tripled a new dimension to increase the volume Better FDI regulatory framework of investment, diversification of export such as full repatriation of profits, over the last and thereby, employment generation moratorium on nationalisation, tax and strengthening of the economic holidays and breaks, accession to 30 years base of Bangladesh. Apart from export MIGA etc. are being put in place. earning objective, employment pattern shows that EPZs have been making significant contribution to the gradual EXPORT PROCESSING ZONES (EPZ) empowerment of women, which supports the objective of Millennium 3rd best cost effective zone Development Goal (MDG). 8 EPZs globally ranked by FDI magazine

Foreign Investment - Ranked as 9th most Asia’s low cost USD 2.5 Bn investment potential Free Zone of Current Focus production base so far Our government with a view to Future (CEPZ) attracting greater Foreign Investment has focused on the following: Improved Environment: Necessary EPZ Performance steps have been initiated to lay out well- 400 4500 structured methods, ways and means 350 4000 to achieve the following objectives: 300 3500 3000 250 Well-managed trade liberalisation 2500 200 regime, strengthening of the rule of 2000 150 law, improved transparency, and better 1500 transport and communications. 100 1000 50 Economic Reform: Appropriate 500 0 0 fiscal measures are underway to 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 look into the following: stabilise the Exports from EPZ, US$mn (RHS) Investment in EPZ, US$mn (LHS) economy, reduce the inflation rate

Opportunity Bangladesh 25 Bangladesh Business Chamber of Singapore Address : 120 Lower Delta Road #11-29 Cendex Centre Singapore 169208 Email : [email protected] Website: http://www.bdcham.sg/ Congratulations to the Government of Bangladesh on its 42nd Anniversary of Independence

Garments & Textiles Ship Building Ceramics Pharmaceuticals

Bangladesh Business Chamber of Singapore Address : 120 Lower Delta Road #11-09 Cendex Centre Singapore 169208 Email : [email protected] Website: http://www.bdcham.sg/

Congratulations to the Government of Bangladesh on its 42nd Anniversary of Independence

Readymade Garments & Textiles Ship Building Ceramics Pharmaceuticals Human Resource

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www.echomedics.com.sg #02-05 Congratulations and Best Wishes to Bangladesh on your 42nd Anniversary of Independence

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Singapore Office Bangladesh Office 101 Kitchener Road House #59 (4th Floor), Suite J-4 #02-05, Jalan Besar Plaza Road # 04, Block-C, Banani, Singapore 208511 Dhaka 1213, Bangladesh Tel: +65 62922522 Fax: +65 62922521 Tel: 02 9882928 Fax: 02 9882852 Email: [email protected] Email: [email protected] www.echomedics.com.sg investment

SIGNIFICANT POVERTY REDUCTION Some of Bangladesh 70 Successful Milestones Percentage of Population Below 58.7 60 56.6 Upper Poverty Line His Excellency Mahbub Uz Zaman in 52.3 his closing remarks had also highlighted 48.9 50 how Bangladesh is a country of immense 42.7 43.8 40 potential and with her natural and human 40 35.2 35.2 resources, it can very well be turned into the 31.5 28.4 ‘Golden Bengal’ dreamt by Bangabandhu. 30 The development trend that Bangabandhu 21.3 set in motion still remains an example for the 20 newly independent least developed nation. The High Commissioner had also pointed 10 out that under the capable leadership of Prime Minister Sheikh Hasina, Bangladesh 0 1991-92 2000 2005 2010 is embarking on the path of self-sustaining development. He described some of the successes achieved in the socio-economic Market Capitalisation: and administrative sectors in the last three The Stock Market Scenario years of the Prime Minister’s tenure: The stock markets in Bangladesh are thriving but yet to realise its full potential. The government should help create markets where it is easy to • Sixth five-year plan buy and sell securities and thus instil confidence. To help improve the The Sixth Five Year Plan has been legal framework, security laws have to be more effective. Venture capital finalised in the light of the government’s will go a long way to help small and medium sized companies to raise long-term development plan and has been capital. New listing has to be encouraged to improve investors’ choices. approved by the Executive Committee of Stock markets can play an important role in attracting foreign National Economic Council (ECNEC). The investment. The Government of India has realized it. In a major move to specific objectives of this plan are to increase attract foreign capital and stabilise rupee, India has permitted residents the per capita income to 1,000 US dollars, to of the Gulf Nations and all nations to invest directly in stock markets increase the literacy rate to 100 per cent and and allowed individual overseas investors to bring up to 1 billion in achieve self-sufficiency in food and to create debt market. social safety net for the poor people.

Competitive Sectors • National Industrial Policy for Investment The national Industrial Policy 2010 has Textiles, spinning, frozen food, leather, electronics, agro-based been passed and the draft of the Industrial industry, information technology, ceramics, light engineering, natural Laws has been prepared. Patent, Design and gas based industries, steel, pharmaceuticals, are some of the competitive Trademarks Act 2009 has been prepared and sectors. Investment can be in the form of : wholly owned industries set up passed. More than one thousand men and in Bangladesh, joint venture industries and exporting to third countries. women have got employment after taking practical training from BITAC. Emerging sectors: High Potential for Foreign Investment • Greater Foreign Clout Pharmaceutical industry is planning to export drug items to all 120 Bangladesh has gained prominence in destinations from the existing 83 countries, by the next few years to give the world community as a liberal, democratic a big boost to the country’s export earnings. The pharmaceutical sector non-communal and responsible country. is the highest contributor to the national exchequer and the largest white Bangladesh achieved remarkable success collar labour intensive employment giving sector of the country. Through exporting medicine, Bangladesh earned taka 328 crore, 348 crore and 382 in cases of the establishment of BIMESTEC crore in 2008, 2009 and 2010 respectively, and expects to earn much more permanent secretariat in Dhaka, approval of in 2011. SAARC Charter of Democracy initiated by Development of the power sector especially its infrastructure is a Bangladesh, sending of the highest number crucial element for attracting FDI. We are pleased to note that ADB has of peacekeepers and police in the UN recently earmarked US$700 million for infrastructure in the power sector. missions, the instance of Bangladesh’s being One thing that was not getting prominence was the issue of upgrading the elected in the record number of posts in the transmission. The facility is part of the US$1.16 billion programme that UN and other international organizations, is being co-financed by the Agence Française de Développement (AFD), organising climate vulnerable forum in 17 the European Investment Bank and the Islamic Development Bank. The missions and progress in demarcating the ADB loan will play a key role in power sector development. sea-borders with India and Myanmar.

Opportunity Bangladesh 27 investment

Bangladesh Investment Summit Singapore Mr Fazle Kabir, Secretary of Bangladesh Ministry of Finance

The recently held summit showcased to Asian investors the potentials of Bangladesh as an investment destination

unny Singapore hosted the in its ‘N-11’ list of countries with a (RMG) sector have been the country’s Bangladesh Investment Summit, high potential to become the world’s economic driver (as shown in Table attended by almost 300 people, largest economies in the 21st century. 2). According to a McKinsey report, Son 4 December 2012, at the Marina Speakers at the summit presented facts garment buyers are moving out of Bay Sands Conference and Exhibition and figures that showed the country’s China and sourcing is expected to go to Centre. Mr Fazle Kabir, Secretary enormous potential that is bolstered by a the next hotspot – Bangladesh. of Bangladesh Ministry of Finance, vibrant entrepreneurial spirit and a large While the country is a hub for global graced the occasion and delivered homogeneous workforce. garments manufacturing, he identified the keynote speech. He outlined the other areas for potential investment: latest developments taking place in the Growth Trajectory infrastructure projects, ICTM business country and that Bangladesh welcomes In his keynote address Mr Kabir services, ceramics, pharmaceuticals, potential investors to participate in the outlined the country’s growth trajectory. light engineering, leather and leather country’s development. Since 1990, the country’s GDP has been goods, tourism, hotels and tertiary Dr Hassan Zaman, Chief Economist growing at a respectable five per cent; care hospitals. He concluded with from Bangladesh Bank (the central in the last five years this has grown to the announcement of two significant bank), officials from the Bangladesh an average of 6.2 per cent (as shown foreign investments. In respond to Office of Investments (BOI) and the in Table 1), even during the global the rising demand for motorcycles, country’s banking leaders were also economic downturn. the government has given the go- on hand to highlight how the country Mr Fazle said this growth has also ahead to Honda to setup a motorcycle is ready for more investments. His resulted in the poverty rate falling manufacturing plant. The second relates Excellency Mahbub Uz Zaman, High sharply to 31 per cent in 2010 (from to offshore hydrocarbon exploration Commissioner of Bangladesh to 56.6 per cent in 1991-1992) and now the projects in the Bay of Bengal. Singapore gave the closing remarks. The country just spends a little more than He said investors interested in summit was organised by Haymarket most low income countries with about Bangladesh can look forward to a Publications’ AsianInvestor and 12 per cent of total public spending growing middle class in its 150 million FinanceAsia magazines. going to social safety-nets. population; a booming export sector Bangladesh has been identified as He highlighted how remittances, sustained growth and continuous one of the Next 11 by Goldman Sach exports and the ready-made garment improvement in human resource

28 Opportunity Bangladesh Panel discussing ‘Unlocking Bangladesh Export Potential.’ investment

Table 1: Resilient Economic Growth Bangladesh Real GDP Growth (%) 8 has been 7 6 identified as one 5 4 3 of countries with 2 1 a high potential 0 to become the FY2002FY2003FY2004FY2005FY2006FY2007FY2008FY2009FY2010FY2011FY2012 world’s largest development; a large working population; labour costs that are the lowest in the economies in the world and robust domestic demand.

Panel Discussion 21st century. One of the highlights of the morning was a panel discussion moderated by Mr Mahfuz Anam, Editor and Publisher of The Daily Star, with several businessmen from Bangladesh, who shared their experiences and views on ‘Unlocking Bangladesh Export Potential.’ They were Mr Mahbubul Anam, Managing Director from Potential Areas Expolanka Bangladesh Ltd; Mr Munawar Moin, Group Director of Rahimafrooz; for Investment Mr Davide Hasanat, Chairman of Viyellatex; Capt Sohail Hasan, Director of Western • Infrastructure Projects - Marine and President of Bangladesh Business Chamber of Singapore and Mr Alamgir communication network Morshed, Head of Financial Markets of Standard Chartered Bank Bangladesh. and transportation, power One of the key factors brought up by the panel was the quality of the Bangladesh generation, gas and oil workforce. Apart from the fact that labour is cheap it is also important to note that exploration, industrial parks, it is skilled and competent, and comparable to other countries. high-tech parks etc There were other panel discussions that discussed and took questions on subjects • Composite Textiles and related to the financial services sector. The topics included The Development Ready Made Garments and Consolidation of the Financial Services and Capital Markets; Infrastructure with backward linkages Opportunities and the Developing PPP (Public-Private Partnership) Framework • Pharmaceuticals and Access Routes for Offshore Financial Investors, among others. • Infocomm Services • Ship Building • Finished Leather and Leather TABLE 2: Remittance and Export: Goods • Telecommunication Equipment Key Drivers of High and Sustained Growth • Tourism • Ceramics Million US$ • Dairy and Poultry 27 000 • Automobile 23 000 • Manufacturing-bicycle 19 000 and two wheelers for exports

15 000 • Jute Products

11 000 • Urban Sewage System • River Reclamation 7 000 • Forestry and Clean Energy 3 000 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 • Steel and Engineering Export Remittance RMG Sector • Health Care

Opportunity Bangladesh 29 investment Trade and Investment Opportunities in Bangladesh

The spirit of free enterprise, competition and innovative entrepreneurship have been the dominant driving forces in the economic life of Bangladesh. These have always encouraged external trade and investment

he British East India Company with crises. There is a tremendous Bangladesh has a sizable domestic had set up office in this region opportunity for the growth of private market of about 152 million people and as early as the 1740s. The equity and other new forms of capital there is a great potential for dramatic Tinstitutions of capitalism like private funding for private enterprise. The increase of domestic consumption with property, individual initiatives, banks fiscal, commercial, monetary and other continuous and accelerating growth in and other financial institutions etc. sectoral policies of the government are national income. Apart from the local have been well honed and practiced supportive of private sector growth on market, most Bangladesh products here much earlier than in other parts scales not known before. Bangladesh enjoy duty and quota free access to of East and Southeast Asia. offers a strong local market, easier the European Union, USA, Canada, Being a plural, open, globally global market access and proven Australia, New Zealand, Japan and oriented society, Bangladesh always export competitiveness. Its middle other developed countries welcomes foreign entrepreneurs in its class consumers are larger in numbers economy. It is now being considered as than the total population of Malaysia, General Economic the most liberal and business friendly Singapore and Thailand. Conditions economy in this region and an attractive The present government of The economy of Bangladesh in a destination for foreign private business Honourable Prime Ministry Sheikh nutshell is as under: and investment. Its investment climate Hasina is committed to strengthening offer generous and attractive packages Board of Investment (BOI) services and GDP Total: US$112 billion of incentives to investors. There is no encourages investors for safe and win- (FY2011-12) discrimination between the local and win investments to achieve the Vision GDP Per Capita: US$772 foreign investors. Prevailing laws and 2021 which would see Bangladesh as a (FY 2011-12) practices fully guarantee the safety of middle income country. GDP Growth: 6.32 per cent the investment and their returns. Total Exports: US$24.287 billion Bangladesh has a larger supply Bangladesh as an (FY 2011-12) of relatively industrious low cost Investment Destination Total Imports: US$35.44 billion labour, with flexibility to match in Bangladesh is strategically located (FY 2011-12) job demands including professionals, for the global trade with access to Total FDI: US$1.136 billion technologists and middle and low-level international sea and air routes and (FY 2011) skilled personnel. is endowed with abundant supply Forex Reserve: US$11.753 billion Despite the recent global of the key factors of production like (December, 2012) financial markets crash, Bangladesh hardworking workforce, natural gas, maintained its trend growth because sweet water, fertile land, favourable The growth pattern of the GDP and of its resilience and capacity to deal climate and social tranquility. Per Capita Income is displayed below:

30 Opportunity Bangladesh investment

credit worthiness. This rating broadly incorporates financial GDP Growth RATE and Per and balance of payments robustness, continued economic Capita Income stability and sustained growth at around 6 per cent per annum Year Per Capita Income ($) GDP Growth Rate (%) over the last one decade. Stable prices, exchange rates, high 2002 378 4.4 foreign currency reserves and growing home remittances

2003 411 5.3 from overseas Bengali workers contribute a lot to this

2004 440 6.3 perception. Policy consistency along with steady progress in

2005 463 6 trade openness has helped steady economic growth averaging over 6 per cent per annum. 2006 476 6.6

2007 523 6.4 Investment Climate - Why Bangladesh? 2008 559 6.2 Bangladesh offers the most liberal investment climate 2009 620 5.74 in South Asia. The Foreign Private Investment (Promotion 2010 687 6.07 and Protection) Act, 1980, which deals with promotion 2011 748 6.71 and protection of investment in Bangladesh, ensures equal 2012 772 6.32 treatment for local and foreign Investors and legal protection

Source: Bangladesh Bank to foreign investment in Bangladesh against nationalisation and expropriation. It also guarantees repatriation of capital • Per capita income has doubled since 2000, reaching and dividend. Adequate protection is available for intellectual doorsteps of Middle Income countries ($772 per capita property rights, such as patents, designs, trademarks income, requires $996) and copyrights. Bangladesh is a signatory to Multilateral • Bangladesh one of six countries in Asia and Africa Investment Guarantee Agency (MIGA) of the World Bank recognised by UNDP for progress in Millennium Group, Overseas Private Investment Corporation (OPIC) Development Goals. of USA, International Centre for Settlement of Investment Disputes (ICSID) and also a member of World Association of Investment Promotion Agencies (WAIPA), World FOREIGN DIRECT INVESTMENT Intellectual Property Organization (WIPO) and World Trade Economic development: In Vision 2021, Bangladesh Organization (WTO). aspires to be ‘a middle income country where poverty will be According to a recent comparative study conducted by the drastically reduced; where the citizens will be able to meet Board of Investment and JETRO on Cost of Doing Business every basic need and where development will be on fast track, between the competing locations, Bangladesh is one of the with ever-increasing rates of growth.” most competitive locations, in many indicators, among the The Medium Term Economic Targets (2013) set as under: ASEAN, Far Eastern and South Asian countries. There are Raising economic growth rate to 8 per cent; reducing poverty lucrative incentives for foreign investors like 100% ownership, rate to 25 per cent; reducing absolute poverty rate to 15 per tax and duty exemptions. cent from 45 per cent by 2021 and enhancing electricity supply to 7,000 MW. Bangladesh Credentials Internationally The Long Term Economic Targets (2021) set as under: Country Policy & Institutional Assessment (CPIA) by Boosting economic growth rate to 10 per cent in 2017 and the World Bank showed Bangladesh has scored higher than sustaining it till 2021; reducing poverty rate to 15 per cent; the average rating of around 100 developing countries. They enhancing electricity supply to 20,000 MW and raising the are assessed in four broad areas: Economic management, economy to the level of a middle-income country by 2021 structural policies, policies for social inclusion and public GDP per capita at $1500. sector management and institutions. Bangladesh scores 3.4 out of a maximum 6 points (developing countries average FDI Inflow 2005 - 2011 point is 3.3). The Foreign Direct Investment (FDI) friendly index in 1086.3 1136.38 the World Bank’s latest report investing across Borders (IAB) 913.32 2010 covering 87 countries lists Bangladesh as one of the most 845.3 792.5 666.3 700.16 convenient destinations for FDI for its investment friendly facilities and regulations. Bangladesh is also in the top of the list of countries which provides the strongest land or property lease rights to foreign investors alongside Canada, Singapore, UK, USA, France and Spain. Foreign business in Bangladesh 2005 2006 2007 2008 2009 2010 2011 requires 55 days on an average completing nine procedures, in India 46 days with 16 procedures and in China 99 days with Source: UNCTAD 18 procedures.

Country Credit Rating New BRICs: A Look at the Next 11 The recently concluded (September, 2012) Moody’s Who will be the next BRICs? Bangladesh is one of the Investors’ service has rated Bangladesh BA3 which implies 11 countries mentioned and the reasons given include it continuity of sound macroeconomic fundamentals and better being an attractive destination for infrastructure investment;

Opportunity Bangladesh 31 LPI

Lanco Power International congratulates the people and the Government of Bangladesh on the momentous occasion of the 42nd Anniversary of Independence

Lanco Power International, a Singapore-based company, is developing two gas fired power pro- jects in Sirajganj with a total capacity of 600 MW.

The people of LPI have been associated with the growth of the power sector in Bangladesh for the last 17 years and are very pleased to be able to contribute their efforts to the economic development Bangladesh.

LPI is an affiliate of Lanco Infratech Ltd, a leading independent power producer in India with 9,000 MW in operation or construction.

Our Offices

Singapore Dhaka Lanco Power International Lanco International Pte Ltd 8 Shenton Way, #50-01 Flat-B1, House-11A AXA Tower Road-50, Gulshan-2 Singapore 068811 Dhaka-1212, Bangladesh Telephone: +65 6603 4108 Telephone: +880-2-9852692-3, Fax: +65 6603 4109 +880-2-9854409 Fax: +880-2-9854410

investment

human capital which is a critical factor of long term growth and technology adoption, a key factor in the virtual world of connectivity. The explosive growth story in cell phones is spreading to all these countries with the poorest among them posting triple digit growth. In Bangladesh this is the major sector for direct investment which is growing exponentially. Citi Investment Research & Analysis of Citigroup in its Global Economics View titled “Global Growth Generators: Moving beyond ‘Emerging Markets’ and ‘BRIC” published in February, 2011 termed Bangladesh, China, Egypt, India, Indonesia, Iraq, Mongolia, Nigeria, Philippines, Sri Lanka and Vietnam as having the most promising (per capita) growth prospects. Over the next 5, 10, 20 and 40 years are expected to Thrust sectors for investment deliver high growth and profitable investment opportunities. In the Industrial Policy-2010 the following sectors are Asian Development Bank commented that Bangladesh considered the Thrust sectors: has made major progress in recent years, with sustained • Agro-based & agricultural • Hospital & Clinic macroeconomic stability, improved health and education, item/foods processing • Auto-mobile gender parity in primary and secondary education, and a industry • Plastic Industry steady decline in poverty. • Export of Human Resources • Furniture Goldman Sachs selected Bangladesh in the ‘Next 11’ list • Ship Building & • Handicrafts after the BRIC nations, which identified countries that may Environmental Ship Breaking • Energy efficient appliances/ have the potential one day to emulate the BRIC nations and Industry Electric Item Making to rival developed economies. • Recycling Power (Solar Industry/Electric Material power, Wind Mill) Development The International Monetary Fund (IMF) commented • Tourism Industry • Frozen Fish Industry on the economy of Bangladesh as resilient and export and • Basic Chemicals, Colours & • Tea Industry remittance flows have bolstered growth and external stability, Chemical Items • Home Textile and sheltered the financial system and non-financial corporate • ICT Goods & ICT Based • Ceramics (Ceramics sector from external shocks. Service Cookeries, Ceramic Tiles & The Wall Street Journal (WSJ) dismissed any previous • Readymade garments Ceramic Sanitary Item) negative branding of Bangladesh and said that the country is industry (Priority will be • Tissue Grafting & Bio- ‘Basket Case’ No More - with a higher growth rate, a lower given high value industries) technology birth rate, and a more internationally competitive economy. • Active Pharmaceuticals • Jewellery Ingredient Industry & Radio • Toys JP Morgan Chase comments on Bangladesh highlighted Pharmaceuticals Industry • Container Service how the country ranks fourth in growth in economically active • Herbal Medicine Industry • Warehouse population and that its five-year economic growth is strong at • Polymer Making Industry • Cosmetics & Toiletries 6.1% (CAGR) with significant progress made over the last few • Jute Based Industry • Light Engineering Industry years. Morgan Stanley has commented Bangladesh is at “the • Leather Industry very early stages of an investment boom.” Fiscal Incentives for Industries Incentives for Foreign Investors • Corporate tax holiday of 5 to 7 years for selected sectors • Tax exemption on interests on foreign loans as well as • Reduced tariff on import of raw materials capital machinery capital gains from transfer of shares by the investing • Bonded warehousing company; exemption of income tax for up to three years • Accelerated depreciation on cost of machinery is admissible for the expatriate personnel employed under an approved for new industrial undertaking (50% in the first year of industrial set up. commercial production, 30% in the second year, and 20% • Remittances of up to 50% of salaries of the foreigners in the third year) employed in Bangladesh and facilities for repatriation of • Tax exemption on capital gains from the transfer of shares their savings and retirement benefits at the time of their of public limited companies listed with a stock exchange return • No restrictions on issuance of work permits to project related foreign nationals and employees • Facilities for repatriation of invested capital, profits and dividends • Provision of transfer of shares held by foreign share holders to local investors • Taka the Bangladesh currency would be convertible for international payments for the foreign investors • Reinvestment of remittable dividends would be treated as new investment

Opportunity Bangladesh 33 A meeting of the BOI - Bangladesh one-stop invest- ment centre in session

investment

A Closer Look at Competitive Sectors in Bangladesh

Several competitive sectors have been identified as favourable for investment by the Board of Investment (BOI), Bangladesh

angladesh is recognised as having some of the most CERAMICS liberal investment policies and incentive regimes in South Asia. The country has been promoting Foreign BDirect Investments (FDI) for decades and BOI, the country’s one-stop investment and facilitation agency offers a wide range of services to investors from conceptualisation to product marketing advice. The BOI has identified several competitive sectors for investors which are listed here. The following list Tableware • Sanitary ware • Insulator is by no means exhaustive and represents just some of the opportunities that exist in the country. Sector Highlights: Global market of ceramic tableware is about US$10 billion and Bangladesh ceramic AGRO-BASED INDUSTRY tableware has a good reputation in international markets such as North America and EU countries. Bangladesh has achieved significant technical expertise in ceramic tableware manufacturing. Historically, tableware industry is labour-intensive and Bangladesh has skilled manpower in ceramic industry with high value addition. Sanitaryware and insulator too have domestic and international market Fresh Fruits & Vegetables • Cooked/Semi Cooked demand. The clean gas reserve required for firing is a Food Items • Canned Juice •Dairy and Poultry • great competitive advantage for Bangladesh. The growing Livestock and Fisheries sanitary ware and insulator items have a large domestic and international market. Sector Highlights: Being an agrarian economy, agriculture has dominated the economy for years. It has Growth of Ceramic Tableware Export from Bangladesh fulfilled the preconditions of access to inputs and raw materials in setting up successful agro-based industries. Alluvial soil, (in Million US$)

a year-round frost-free environment, adequate water supply 40 38.33 31.70

and abundance of cheap labour are available in Bangladesh. 29.95 28.75

30 27.50

Increased cultivation of vegetables, spices and tropical fruits 24.07 19.47 18.82

now grown in Bangladesh could supply raw materials to 20 17.50 10.02 local agro-processing industries for both domestic and 9.46 10 export markets. In 2008-09 export of agricultural products accounted for about 0.79 per cent of total exports amounting 0 to approx. US$122.29 million. There is also a substantial 2001-02 2003-04 2005-06 1998-99 2002-03 2004-05 2006-07 2007-08 2008-09 demand supply gap in the agro-based industry both in the 1999-00 2000-01 domestic and international market. Source: Bangladesh Export Promotion Bureau

34 Opportunity Bangladesh investment

INFORMATION TECHNOLOGY FROZEN FOODS

Data Processing • Software Development • Frozen Shrimp • Frozen Fish • Other items Hardware Manufacturing Sector Highlights: The government is promoting semi- Sector Highlights: The extensive growth of mobile intensive shrimp farming. Shrimp processing and exports telecommunications resulted in significant opportunities. are currently dominated by a smaller, unorganised sector Bangladesh has a well-educated, skilled, dedicated and and there is a 12.5 per cent cash incentive for shrimp exports. growing IT workforce. There is a fast growing domestic The frozen foods export is the second largest export sector market and export demand. Strong research assistance from of the country. Bangladesh exporters enjoy credibility and the universities and research institutions are available and the trustworthiness in the global market, Frozen food sub-sector government is keen in establishing IT related infrastructure. has opportunities in Middle East, EU, North America and Far The annual market size for IT including computer hardware, East countries. According to information from Bangladesh peripherals and software was estimated to be worth Frozen Foods Exporters Association there are 145 fish approximately US$20 million. The market is fast growing processing plants having a processing capacity of 265,000 at an annual rate of about 25 per cent. Currently more MT and 74 plants are licensed by the government and 71 are than 50 software and IT service companies in Bangladesh approved by the EU. This export-oriented industry includes are exporting software and related services to 30 countries the following sub-sectors, which need proper attention including USA, Canada, UK, Sweden, Australia, Japan etc. for augmentation of production, attaining international Software applications and IT-related services are also available standard quality and export earnings: hatcheries, sustainable in the custom business applications, contract programming aqua-culture technology, feed meals plants and processing services, web content development, e-governance software operations for value-added products. Investment in frozen tools, data conversion and transcription services, call centres food sector with new technology and equipment has a vast and BPO (business process outsourcing) services, etc. potential for growth.

Frozen Food Export from Bangladesh

NATURAL GAS-BASED INDUSTRIES (in Million US$)

600 2008-09 534 515

500 459 421 390

400 363 344 322 276 300 270 200 100 0 1999-00 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 1998-99

Electricity • Fertilizer • Petrochemicals • Source: Bangladesh Export Promotion Bureau CNG Distribution Network

Sector Highlights: Bangladesh has a net recoverable has reached to more than 160,000 in June 2009. A huge gas reserve of approximately 29.234 TCF of which primary opportunity for investment in CNG Distribution Network recoverable is 21.055 TCF. The amount of gas production till has presented itself. June 2009 was 8.37 TCF leaving 12.678 TCF net recoverable. Demand for electricity in Bangladesh is high and Joint venture opportunities between Petrobangla and power demand is anticipated to increase at around 6 per private sector are open. There is a huge demand for fertilizer cent per annum in the upcoming years. Income elasticity in Bangladesh as agriculture is the dominant sector of the of demand for electric power is 3. Opportunities existing economy. Introduction of CNG fuelling in the metropolises for foreign investors include developing new plants (barge- has geared up the need for the establishment of sufficient mounted and other, large, small and mini) in joint venture CNG Distribution Stations. with BPDB; maintaining and expanding existing power CNG is a highly efficient, eco-friendly and cost-effective transmission and distribution system; rehabilitating fuelling option for motorized vehicles. To improve air or upgrading existing plants and supplying a variety of quality two-stroke petrol fuelled taxies have been mostly supplementary services such as privately owned Remote replaced with CNG fuelled taxies. Other vehicles are also Area Power Supply System (RAPSS), technology transfer being converted to CNG orientation. In 2001-2002 the through manufacturing / assembly of power equipment and number of CNG run vehicles was 6,734 and this number investing in CNG distribution network development.

Opportunity Bangladesh 35 DIPLOMACY NEEDS PUBLICITY

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SHIPBUILDING PHARMACEUTICAL

Sector Highlights: At present the private sector is the Sector Highlights: As a Least Developed Country, major player with dozens of shipyards in Dhaka, Chittagong, Bangladesh enjoys tariff and quota-free access under Narayangonj, Barisal and Khulna districts. The industry is the Generalized System of Preferences (GSP) to the EU manufacturing row ferries, tug boats, fishing trawlers, inland market for all products (apart from arms and armaments). oil tankers etc. catering to local demand. Cost-effective Bangladesh also enjoys tariff-free access for exports of human resource compared with other shipbuilding nations manufactured products to the USA and Japan under and comparative advantages such a simple importation their respective GSP systems. The GSP therefore allows facility of raw materials, duty access for Bangladesh tariff-free access to a market of over 882 Bangladesh ships to other countries etc. have encouraged million people for its pharma products. Bangladesh will the Bangladesh entrepreneur of this sector to come forward also benefit from membership in the South Asian Free to begin exporting. Bangladesh Government has taken Trade Area (SAFTA) which commits India to reduce its initiatives to promote this sector as the next cost effective tariffs on a wide range of products, including pharma. destination for global buyers dealing in ships, ship machine, Furthermore, Bangladesh belongs to the Asia Pacific Trade fittings any marine technology. Recently Bangladesh has been Agreement (APTA), therefore enjoys reduced tariffs on successfully exporting larger ocean going vessels to high- exports of certain goods to China. These include many end market such as Denmark by competing with Chinese pharma products. Bangladesh exports a wide range of and Vietnamese shipbuilders. There is a huge gap between pharmaceutical products covering all major therapeutic demand and supply of ships in the international shipbuilding classes and dosage forms such as tablets, capsules and market. In the overbooked market, shipyards are signing syrups. It is also exporting high-tech specialized products contracts much in excess of their actual capacity. such as HFA inhalers, suppositories, hormone steroids, oncology and immune suppressant products, nasal sprays. injectibles and IV infusions. READY MADE GARMENTS Trends of Pharmaceutical Export from Bangladesh

(in Million US$)

50 45.67 43.00 40 28.15 30 27.47 21.26 20 12.69 9.05 6.90

10 6.60

Sector Highlights: Bangladesh’s Ready Made Garments 0 (RMG) industry is best placed in the region because of 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 low-cost labour, preferential trade status and advantageous Source: Bangladesh Export Promotion Bureau global market access. It is estimated that RMG and knitwear account for about 4,000 factories and a workforce of three million — almost 80 per cent of which are women. This Exhibit 10 Shows the Growth of RMG Exports from Bangladesh sector now employs over 50 per cent of the industrial workforce. The growth in the textile and the garments sector (in Million US$) means that Bangladesh is perfectly positioned to appeal to foreign investors. Bangladesh is a significant RMG supplier 14,000 12,348 12,000 to North America and Europe and is the fourth largest in 10,700 the world. There are enormous opportunities in setting up 10,000 9,212 8,000 7,901 composite textiles industry combining textile, yarn and 6,000 5,686 4,912 4,860 4,584 4,553 4,020 garments. The government provides highly favorable policy 4,000 3,783 framework for investment in the sector and investors have 2,000 the following choices: establishment of new textile or RMG 0 mill in the private sector; joint ventures with the existing 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 textile or RMG mill; acquisition of public sector textile mills 1998-99 1999-00 2007-08 2008-09 that are being privatized and indirect investment through financial services and/or leasing. Source: Bangladesh Export Promotion Bureau

Opportunity Bangladesh 37 “To serve the needs of the Oil and Gas Industry” Congratulations and Felicitation to the Government and the People of Bangladesh on their 42nd Anniversary of

Co. Reg. No. 197400446C Independence

“Turnkey Design, Engineering, Manufacturing, Procurement and Construction of Oil & Gas Processing Plants, Metering and Regulating Systems including manufacturing of Flow Computers, Heaters, Separators.”

29 Tuas Avenue 3, Singapore 639420 Tel: (65) 6861 1388 Fax: (65) 6865 1764 E-mail: [email protected] www.zicomgroup.com

“To serve the needs of the Oil and Gas Industry” Congratulations and Felicitation to the Government and the People of Bangladesh on their 42nd Anniversary of

Co. Reg. No. 197400446C Independence

“Turnkey Design, Engineering, Manufacturing, Procurement and Construction of Oil & Gas Processing Plants, Metering and Regulating Systems including manufacturing of Flow Computers, Heaters, Separators.”

29 Tuas Avenue 3, Singapore 639420 Tel: (65) 6861 1388 Fax: (65) 6865 1764 E-mail: [email protected] www.zicomgroup.com investment

A Foreign Investor’s Perspective on the Bangladesh Power Sector by Arun Sen*

Bangladesh recognizes the importance of electricity and implement rational and stable policy regimes to encourage development of the power sector

dequate supplies of electric Simply put, insufficient electric general social condition and safety. And power, delivered efficiently and power affects a country’s ability to the list goes on. sustainably, have the ability to develop – economically and otherwise. Governments which recognize the Abe a game changer for any developing Industries will not have enough importance of electricity and implement country. Many studies have been done electricity to power their production rational and stable policy regimes to and it has been noted in academic facilities and will have to rely on very encourage the development of their journals and political commentary expensive captive generation. Large power sectors can attract large volumes over the years that: Electricity is a vital segments of the population will have to of public and private investment. It factor of great economic and social rely on other sources of energy for daily is no coincidence that countries that importance. Unfortunately, more than life, typically oil, coal or biomass, which have developed rapidly in the last 40 2.4 billion people, most of them in South are highly polluting, inefficient and often years and lifted large swathes of their Asia and sub-Saharan Africa, are still very expensive. Clean water delivery and citizens out of poverty have invested without access to electricity. Countries wastewater treatment will be impaired considerable political, human and with high levels of poverty and low with the resultant adverse health effects. financial capital in their power sectors. social welfare indicators typically have Advanced medical treatment and the Countries like China, Korea, Thailand, poorly developed power sectors. More storage and delivery of lifesaving drugs Brazil, Peru and Chile come to mind. developed countries have higher rates will be impeded. Electricity outages of electricity consumption. during the hours of darkness impact the Progressive Policies and Government Support The author and his colleagues at Lanco Power International have been involved with power investments in Bangladesh since 1997 and they believe that the sector increasingly has many of the characteristics that should make it a relatively attractive destination for foreign investors. In the mid-1990s, the government restructured the power sector to make it possible for private investors to participate. With the assistance of multilateral and bilateral institutions, the government developed a set of well-structured and financeable project documents and a transparent competitive bidding process, following structures previously implemented with multilateral assistance in other countries.

*The writer is the CEO of Lanco Power International Opportunity Bangladesh 39 transworld Trade Ad_A5_240213_cs3_path.pdf 2/24/13 11:36:03 PM

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The procurement processes are quite transparent and are applied in a fair and rational manner.

The government also put in place supportive fiscal incentives, including a tax as their post-bid activities in the power sector holiday. The ADB, the IFC and the World Bank sponsored and monitored are concerned. the early bids and assisted with financing structures. The response from the Over the past 15 years, Bangladesh has international power investment community was very positive. hosted some very sophisticated international investors in the power sector including Misplaced Apprehensions companies from the United States, the Bangladesh has been accorded a sovereign credit rating of BB- stable U.K. and Malaysia. As the record shows, from Standard & Poors (see Table 1). Other large developing countries these investors received support from the with identical ratings include Vietnam and Nigeria. Sizeable developing government in the development and financing economies with slightly better ratings (BB/BB+) include the Philippines, of their projects and once completed, they Indonesia, Turkey and Tunisia. The Sovereign Credit Rating for Bangladesh were able to operate their projects without is one of the best in South Asia. obstacles. Importantly, investors have been able to repay their loans and pay dividends Actual Experience in Power Sector without any difficulties. They have been The actual experience of foreign investors in the Bangladesh power sector able to effect changes in ownership and is happily somewhat removed from the OECD country risk classification. control, and repatriate their capital without In the author’s experience, Bangladesh is one of only a handful of emerging obstruction. This is not a record that many markets in which the power sector has been characterized by: developing countries can boast of and one (a) Contracts that have been consistently honoured with no payment that should be nurtured and proliferated to defaults; other sectors of the economy. (b) Several successive generations of investors that have operated profitably; (c) Changes in ownership that have occurred smoothly and without governmental obstacles; Country S&P (d) An absence of discrimination against foreign investors, interference in operations, unreasonable disputes and actions amounting to ‘creeping Bangladesh BB- expropriation’. Nigeria BB- Bangladesh has been a fairly welcoming environment for foreign investors in the power sector. The rules and regulations are generally rational Vietnam BB- and easy to understand. The procurement processes are quite transparent and are applied in a fair and rational manner. The administrators in the Indonesia BB+ sector are experienced and supportive. The process of project development and the risks that are undertaken by investors are well understood by the Philippines BB+ administrators. Site procurement is typically a government responsibility and has typically been undertaken in a fair and transparent manner such that local opposition is rare. The permitting process is not unduly complex and is Tunisia BB generally well supported by sector administrators and local government. All in all, it is fair to say that the GOB and its administrative entities have abided Turkey BB by the terms of their contracts and have established a good track record as far Table 1: Standard & Poors Credit Rating

Opportunity Bangladesh 41 going global

Ready-made Garment A Success Unparalleled

The ready-made garment (RMG) industry of Bangladesh constitutes one of the glorious success stories of the country’s economic performance

he World Trade Organisation now at the heart of discussion for its free access to US market. declared Bangladesh as the potential in the apparel sector. At the Bangladesh investment second largest RMG exporter She said her government has taken Summit in Singapore, last year, Chief Tafter China, in 2010-11. Bangladesh initiatives to set up a Garment Village Economist of the Bangladesh Bank, retained its position in 2011-12 by (Palli) on 300 acres of land at Gozaria Dr Hassan Zaman, said “earnings from exporting garments worth US$19.09 of for easy and safe the readymade garment (RMG) and all billion. The figure is set to exceed US$20 development of the garment industry. other sectors are expected to get a major billion in 2012-13. The Bangladesh Government has also boost, as the government is reviewing According to a 2011 McKinsey implemented various measures to its Foreign Exchange Act with an aim to report, ‘Bangladesh’s Ready Made protect the RMG sector and is exploring liberalise it and draw more investment Garment Landscape,’ the chief more markets abroad, particularly duty into diverse sectors.” purchasing officers (CPOs) in Europe and US apparel companies are looking for performance improved opportunities away from China, where increasing labour cost and shortage of labour are eating away the advantages. And Bangladesh is the country they are looking at. McKinsey expects Bangladesh’s apparel exports to reach US$36 billion by 2020.

Full Government Support Inaugurating the three-day 23rd Bangladesh Apparel and Textile Exposition (Batexpo-2012) in December, at Bangabandhu International Conference Centre (BICC), Prime Minister Sheikh Hasina, urged the garment factory owners to go for global markets as Bangladesh is

42 Opportunity Bangladesh going global

According to the McKinsey report, Bangladesh will be the number one sourcing hot spot in another five years.

Foreign Investors in RMG Germany-based Amann Group, a INCREASED DEMAND FROM NEW REGIONAL & producer of high-quality sewing and INTERNATIONAL MARKETS embroidery threads, and Bangladesh- “Which 3 countries will gain most importance for you in the next 10 years?” Supplier, percent of respondents based Standard Group, a company involved in numerous businesses China 48 including apparel manufacturing, have Germany 38 established the Amann Bangladesh Ltd., India 35 a joint venture that produces and sells high-quality sewing threads for apparel, United States 28 shoe and leather applications. Japan- Japan 25 based zipper manufacturer YKK Corp. Australia 17 has invested approximately US$27 United Kingdom 13 million to expand its manufacturing Existing plant in Dhaka. Brazil 11 New

India-based Arvind Ltd., an South Africa 10 integrated manufacturer of denim and shirting fabrics for the apparel industry, Canada 9 and Bangladesh-based Nitol Niloy SOURCE: McKinsey supplier survey, September 2011 Group, a company involved in a variety of business sectors, has also established an 80-20 joint McKinsey report, Bangladesh will be the number one sourcing venture company. hot spot in another five years. The country has the advantages of price, capacity and capability. For European CPOs, the Weaving into New Markets favourable trade agreement is an added bonus. This advantageous The Bangladesh Garment Manufacturers and starting position in terms of price, capacity, capability and Exporters Association (BGMEA) and the Bangladesh trade regulations provides the base for positive RMG growth Knitwear Manufacturers and Exporters Association in Bangladesh. For the next 10 years, McKinsey forecasts a (BKMEA) work towards promoting and developing continuation of the high growth of the sector. However, the the sector and creating healthy business environment. situation has its own challenges but if the government, the Bangladesh knows its advantages and buoyed by them is private manufacturers and the industry associations all work looking at new export markets such as Japan, Australia, towards mitigating the challenges, then the market will double South Korea, Brazil, Chile, Mexico, Hong Kong, Taiwan, by 2015 and nearly triple by 2020. China, Singapore, Russia and the UAE (see graph). The government is working on multiple fronts; increasing Various trade delegations under the aegis of BGMEA investments (FDI and local), investing in education (middle have been to these countries to showcase investment management and vocational) and increasing the trade support opportunities in Bangladesh. “We are pinning our through bilateral agreements that go beyond export markets. hopes on at least 10 new markets, as shipments to these Backward linkages are crucial particularly in securing raw material countries are slowly increasing,” said BGMEA President supply and the government is considering long-term strategies. Abdul Salam Murshedy. “Although exports to these new markets are much less than those made to our traditional markets of Europe and USA, local exporters are quite upbeat.” Speaking at a seminar on ‘Market Access and Product Diversification,’ in February 2012, speakers noted that the RMG sector can diversify its products and enter unexplored or under-explored potential markets. Speakers also pointed out that manufacturers should prioritise aspects such as availability of skilled workers; a healthy industrial atmosphere; timely delivery of export orders; desired quality; reduced lead time; low price and sustainable compliance.

Advantages and Challenges For most purchasing officers, according to the

Opportunity Bangladesh 43

workforce

Bangladesh Workforce Good Year for Overseas Employment

It has been a good year for overseas employment and consequently remittance inflow into Bangladesh

angladesh workers have The year 2012 was a good one contributed in a big way to for Bangladesh in terms of overseas According to Singapore’s infrastructural employment. The Bangladesh High Bdevelopment as the level of employment Commission in Singapore also fared Bangladesh Bank, and remittances have continued to quite impressively in this regard. Last grow. At present there are about year a total of 58,675 Bangladeshi in 2012 Bangladeshi 100,000 Bangladeshi workers employed workers came to Singapore to work, in Singapore. Bangladeshi workers which was up from the 48,667 in expatriates remitted have, over the years, established a good 2011. This was a 20.56 per cent reputation in Singapore. They are law growth. (source: Bureau of Manpower US$426.91 million from abiding and hard working, which is why Employment and Training). employers in Singapore are interested to Singapore compared employ Bangladeshi workers. Main Sectors of Employment to US$235.76 million Singapore – In Singapore, Bangladeshi workers A Favourite Destination work mainly in the following sectors: in 2011 Singapore is a favourite destination • Construction - around 60 per for many Bangladeshi workers and cent of the workers are working in the main reason is that the working this sector Singapore compared to US$235.76 conditions are better compared to other • Ship building & maintenance - million in 2011. countries where Bangladeshi’s have around 30 per cent of the workers Bangladeshi workers are playing gone with employment. are working in this sector an important role in the economic Both skilled and semi-skilled workers • Conservancy - around 10 per cent development of Singapore particularly in from Bangladesh work in Singapore. of the workers are working in this the area of infrastructure development, Professionals are engaged in the marine sector ship industry and conservancy. At the industry, universities and hospitals. same time the employment opportunity Apart from these, there is the growing Remittance of Bangladeshi workers, here in trend of Foreign Domestic Workers Remittance from Singapore nearly Singapore, is also playing an important coming into Singapore from Bangladesh. doubled in 2012 compared to the role in the betterment of the economic While the number is not very significant previous year. According to Bangladesh condition of their families back home at the moment, the potential exists and Bank, in 2012 Bangladeshi expatriates and the socio-economic development the response is encouraging. remitted US$426.91 million from of Bangladesh as a whole.

Opportunity Bangladesh 45 Congratulations to the Government and the People of Bangladesh on Their 42nd Anniversary of Independence from Our Doctors

Dr. Dinesh Nair Dr. V. P Nair Consultant Cardiologist Consultant Cardiologist MBBCh BAO (Rep of Ireland), MBBS, MRCP (Ireland), MRCP (UK), FAMS (Cardiology, Singapore), FAMS (Cardiology, Singapore), FCCP(USA), FACC (USA), FCCP (USA), FSCAI (USA) FRCP (Edin), FRCGP (UK), FRCPI, MRCP (UK), FRCP (Edin), FESC (Europe) FRCP (London), FACC (USA), FESC, PBM Our Services • Specialist Consultation • Carotid & Abdominal Ultrasound • Cardiac & Medical Assessment • Coronary Angiogram (through wrist or groin) • Complete Heart Screening • Balloon Angioplasty & Stenting (through wrist or groin) • 12-Lead Electrocardiogram (ECG) • Coronary Calcium Score & CT Coronary Angiogram • Heart Rhythm Assessment • Myocardial Perfusion Stress Echo & PET Scan • Echocardiography (Ultrasound of Heart) • Treadmill Stress Test (TM / ETT) • Ambulatory ECG Monitoring (Holter) • Comprehensive Range of Blood / Urine Investigation • Ambulatory Blood Pressure Monitoring (ABP) • Renal Denervation to treat hypertension • Renal Artery Stenting • ABI to treat Peripheral Vascular Disease Our Clinics Nair Cardiac & Medical Centre 3 Mount Elizabeth, #16-08 Mount Elizabeth Medical Centre, Singapore 228510 For appointments please call +65 6235 9226 / 8 or email us: [email protected] or [email protected] Heart Matters Medical Centre Pte Ltd 3 Mount Elizabeth, #16-08 Mount Elizabeth Medical Centre, Singapore 228510 For appointments please call +65 6836 1880 or email us: [email protected] Branch Office Nair Cardiac Medical Specialist Centre, #07-35 Mount Elizabeth Medical Specialist Centre, 38 Irrawady Road, , Singapore 329563 Our Websites: www.cardiology-nairclinic.com www.heartmatters.com.sg

heart.indd 1 18/2/2013 5:59:03 PM arts and culture Congratulations to the Government and the People of Bangladesh on Their 42nd Anniversary of Independence from Our Doctors

Arts, Culture and History of

Bangladesh by Ziaul Haque Howlader*

Bangladesh has been the cradle of civilization, a centre of cultural diffusion, since the dawn of history. It was the meeting ground of various peoples in different Dr. Dinesh Nair Dr. V. P Nair states of civilization, the most primitive as well as the most advanced Consultant Cardiologist Consultant Cardiologist MBBCh BAO (Rep of Ireland), MBBS, MRCP (Ireland), MRCP (UK), he country’s cultural history contemporary art, drama, mainly of and conserving, often on a selective FAMS (Cardiology, Singapore), FAMS (Cardiology, Singapore), FCCP(USA), is one of the greatest and indigenous origin and have its own basis, these cultural traditions because FACC (USA), FCCP (USA), FSCAI (USA) FRCP (Edin), FRCGP (UK), FRCPI, glorious heritages, which every distinct feature. Pantomime, puppet, they are attractions for tourists. MRCP (UK), FRCP (Edin), FESC (Europe) FRCP (London), FACC (USA), FESC, PBM TBangladeshi is legitimately proud of. theatre, caricature, acrobatics and Each phase of its history has a distinct circuses have their own novelties. Music New technologies for characteristic. Every race that came in Bangladesh has developed through presentation Our Services here and settled here left a mark: centuries along the three mainstreams Bangladesh, at present, is applying • Specialist Consultation • Carotid & Abdominal Ultrasound racial, religious or cultural in the form channels: folk, modern and classical. new technologies in the presentation • Cardiac & Medical Assessment • Coronary Angiogram (through wrist or groin) of temples, stupas, monasteries and Folk, tribal and classical are the and interpretation of historic and • Complete Heart Screening • Balloon Angioplasty & Stenting (through wrist or groin) mosque along with their associated prominent forms of dances. cultural sites to draw more tourists. For • 12-Lead Electrocardiogram (ECG) • Coronary Calcium Score & CT Coronary Angiogram objects. a country like Bangladesh where culture Bangladesh cultural landmarks of Fairs and festivals and tradition are unique, variant and • Heart Rhythm Assessment • Myocardial Perfusion Stress Echo & PET Scan antiquity range from the 3rd century Fairs and festivals, both religious having long historical background and • Echocardiography (Ultrasound of Heart) • Treadmill Stress Test (TM / ETT) B.C. to the 19th A.D. At the time of and social always play a significant role significance, installation of adoptable • Ambulatory ECG Monitoring (Holter) • Comprehensive Range of Blood / Urine Investigation Independence the total number of in the life of the people. Bengali New technology is necessary. Hence, • Ambulatory Blood Pressure Monitoring (ABP) • Renal Denervation to treat hypertension monuments and sites protected in the Year’s Day, Independence Day, National Bangladesh is trying its level best to • Renal Artery Stenting • ABI to treat Peripheral Vascular Disease then under the Ancient Martyr’s Day, the International Mother apply more modern technologies in Monument Preservation Act was 80, Language Day, Eid-ul-fitr, Eid-ul Azha, the presentation and interpretation of whereas, the number has now increased Durga Puja, Christmas Day and Buddha historic and cultural sites to visit. to 345. The department of Archeology Purnima are a few of such occasions to Visual arts and crafts are important Our Clinics in Bangladesh, the government agency mention. Beside these, various fairs and attractions for tourists and can be a Nair Cardiac & Medical Centre responsible for preservation and exhibitions are held throughout the source of income for residents of the 3 Mount Elizabeth, #16-08 Mount Elizabeth Medical Centre, Singapore 228510 conservation of cultural property has country round the year. tourism areas including people living For appointments please call +65 6235 9226 / 8 or not only protected these monuments, The cultural resources of Bangladesh in village and rural areas. For the email us: [email protected] or [email protected] but has also taken the responsibility for tourism, such as the visual and authenticity of local arts and crafts, to conserve them through specialised performing arts, crafts, traditional these arts reflect local designs, materials Heart Matters Medical Centre Pte Ltd methods and preserved them in their dress, ceremonies, architecture and and craft skills. The whole of Bangladesh 3 Mount Elizabeth, #16-08 Mount Elizabeth Medical Centre, Singapore 228510 original features for the posterity. life styles are being technologically is famous for arts and crafts. Bangladesh For appointments please call +65 6836 1880 or Bangladesh is literally a multi-face developed, interpreted and managed. has also developed some special areas email us: [email protected] cultural collage. Its deep-rooted heritage These are also significant aspects of the like Dhamrai, Comilla, Sonargaon and is amply reflected in its architecture, cultural heritage of a particular area of Rajshahi, which are famous for local Branch Office literature, dance, drama, music and Bangladesh, which are being preserved arts and crafts. Government has also Nair Cardiac Medical Specialist Centre, #07-35 Mount Elizabeth Medical paintings which are also influenced by for the benefit of residents. In many supported the visual arts and crafts Specialist Centre, 38 Irrawady Road, , Singapore 329563 great religions such as Islam, Hinduism, places, cultural traditions are being lost scene by taking some institutional Buddhism and Christianity. because of the influences of modern measures to develop and market them. Sculpture, tapestry, engravings development. Cultural tourism can be Cultural tourism can also provide Our Websites: are developing along the main stream an important vehicle for revitalizing a market for the contemporary art of www.cardiology-nairclinic.com *The writer is Deputy Manager of Bangladesh Parjatan Corporation (Govt. Tourism Organisation) www.heartmatters.com.sg Opportunity Bangladesh 47

heart.indd 1 18/2/2013 5:59:03 PM RAHMAN Group of Companies

wishes to Bangladesh for its 42 years of Independence

Rahman Exp & Imp Trading (S) Pte Ltd. Corporate Address Multisource Technology Pte Ltd 17 Norris Road, Singapore 208259 J & J Souvenirs Pte Ltd. Tel: 6296 6364 Fax: 6296 5441 Multisource Trading Email: [email protected] arts and culture

paintings and sculpture that are well developed in many places, often through Bangladesh university educational programmes. Contemporary works of art are being sold to tourists at art galleries located independently or in hotels and at special exhibits. Various sorts of arts and crafts exhibitions are regularly held in different galleries, hotels, and motels of Bangladesh.

Craft Villages A common and often successful approach for presentation and sales of arts and crafts is development of integrated craft centres or “villages”. The government has plans to set up such centres or villages specially at Sonargaon Ustad Ayet Ali Khan are two names in The earliest available specimen of in the near future. These centers will be classical instrumental music who are Bengali literature is about a thousand designed in the traditional architectural internationally known. The store of years old. During the mediaeval style and contain a large number of folk song abounds in spiritual lyrics of period, Bengali literature developed shops, demonstrations of arts and crafts Lalan Shah, Hasan Raja, Romesh Shill considerably with the patronage of production, snacks bars, restaurants and many anonymous lyricists. Bangla Muslim rulers. Chandi Das, Daulat Kazi and other tourist facilities. music arena is enriched with Jari, Shari, and Alaol are some of the famous poets Traditional dance, music and drama Bhatiali, Murshidi and other types of the period. The era of modern Bengali performances of Bangladesh are also of of folk songs. Rabindra Sangeet and literature began in the late nineteenth much interest to many tourists. There are Nazrul Sangeet are Bangalees’ precious century; Rabindranath Tagore, the also institutional training programmes heritage. Modern music is also practiced Nobel Laureate is a vital part of Bangalee in Bangladesh to ensure high quality widely. Contemporary patterns have culture. Kazi Nazrul Islam, Michael levels of the performances. Bangladesh, more inclinations to west. Pop song and Madhusudan Datta. Sarat Chandra being a newly tourism-developed band groups are also coming up mainly Chattopadhaya, Bankim Chandra country, puts forth best effort to find out in Dhaka City. Chattopadhaya, Mir Mosharraf Hossain the techniques for the management and Bangladesh has a rich tradition of and Kazi Ahdul Wadud are the pioneers marketing of its tourism at historic and art. Specimens of ancient terracotta of modern Bengali Literature. cultural sites, with particular reference and pottery show remarkable artistry. to mass destinations. Modern painting was pioneered by Archaeological Cultural artists like , Qamrul Sites Music Hasan and S.M. Sultan. Zainul Abedin The other important segment Traditional Bangladesh music and S.M. Sultan earned worldwide of cultural tourism in Bangladesh shares the perspectives of the Indian fame by their stunning sketches of the is its archaeological heritage. sub-continent. Music here can be Bengal Famine in 1943. Other famous Archaeological cultural heritage sites divided into three distinct categories: artists of Bangladesh are Abdur Razzak, are being developed in a significant classical, folk and modern. The classical , Murtaza Baseer, manner. Bangladesh inherits a rich music, both vocal and instrumental are Aminul Islam, Debdas Chakraborty, cultural heritage of more than two rooted in the remote-past of the sub- Kazi Abdul Baset, , and and a half millennia. Bangladesh continent. Ustad Alauddin Khan and Mohammad Kibria. believes cultural tourism can include

Congratulations to the Government of Bangladesh on its 42nd Anniversary of Independence

Integratech Pte Ltd is a Software Solutions and IT Infrastructure Company established in 2003, with headquarters in Singapore, serving customers in Banking & Finance, We welcome partner enquiries to represent Manufacturing, Maritime, Retail & Trade industries in India and ASEAN countries. our products & services.

Our Services: Software Development ▪ System & Payment Integration ▪ Remittance Solutions Integratech Pte Ltd 30 Robinson Road, #03-01C Robinson Towers IT Infrastructure Management ▪ Network Administration ▪ Annual Maintenance Singapore 048546 Tel: +65 6324 7811 PARTNERS Partnership/Distributorship: [email protected] Sales: [email protected] Web: www.integratech.com.sg arts and culture all products associated with public archaeological promotion, including visits to archaeological sites, museums, interpretation centres, re-enactments of historical occurrences, and the rediscovery of indigenous products, festivals, etc. The survey of archaeological heritage sites in the country is not yet complete but the sites are found in four divisions: Rajshahi, Khulna, Barisal and Dhaka. Initital indications are that the number of sites of various nature and dimensions may be more than 2,000. So far only 417 have been declared as protected archaeological sites for which Department of Archaeology will preserve and promote. Of them about 30% are cultural mounds, which needs to be exposed and the rest are either standing monuments or exposed by archaeological excavation and subsequently preserved. The latter two categories include city site, palace, port, bridge, road, monastery, in District, Panam City in attention of a large number of visitors temple, mosque, tomb, fort, inns etc. , Tajhat Zamindar Bari in both from home and abroad. Bangladesh Notable of them are Mahasthagarh and Rangpur, Paharpur Monastery (another has plenty of opportunities for developing Pundranagar in district, Mainamati World Heritage Site) in , cultural tourism. Tourists visiting can in , 60-domed mosque Kantaji Temple in District and observe harmony and peace, prevailing (a UNESCO designated World Heriatge Lalbag Fort in Dhaka. among the people of different religions Site in , Wari-Bateswar All these monuments attract the in this country. tourism

Tourism Highlights of Sylhet

Lush green, pristine and picturesque, Sylhet of the rolling tea gardens, nestled in the Surma Valley, is your perfect tropical hill resort

reaking away from the fame while during the rainy season become of the Sunderbans, the Royal turbulent water bodies. The haors Bengal Tiger and of the world’s provide a sanctuary to the millions Blongest beach in Cox’s Bazar, is not easy. of migratory birds, from Siberia. A But Sylhet Highlands, the country’s paradise for bird watchers! most popular hilly terrain has managed Sylhet is the tea district of Bangladesh to do just that. Gaining in popularity and boasts of three of the largest tea Getting There and Going as a major tourist destination, this gardens in the world in dimension and Around quaint little valley tucked between production. Spread like a green carpet Cycle rickshaws, auto rickshaws winding pair of rivers the Surma for as far as the eyes can see, the view is (mainly known as baby-taxis or and the Kushiara, is Bangladesh’s tea mesmerising and peaceful. A visit to a CNGs), buses, mini-buses and cars capital. The over 150 tea gardens bear tea garden is a memorable experience; take you around Sylhet. The town the legacy of the English, who made you can watch the picking of tea leaves is well connected by highways and their fortune in tea. With the Khasia and for organised trips can even do it on railway links to Chittagong and Dhaka, and the Jaintia Hills to the North and your own! Only do not expect to be paid as well as the outskirts. Highway the Tripura Hills to the South, Sylhet for it. About 80 kms from Sylhet town links to India have been established breaks the monotony of the ubiquitous is Srimangal, the land of two leaves and through the Asian Highway. From flat riverine plains. a bud,’ the tea capital of Bangladesh. the Sylhet railway station you can take Learn how tea is processed at the Tea the national routes operated by the Exotic and Historic Research Institute. Bangladesh Railway. Sylhet is situated in the north-east The forests around also abound in The Osmani International Airport, part of Bangladesh. Fed by hilly streams, honeycombs. For the Moualis or honey located at the north of the city, is the rivers and the rolling country side collectors it is the forest way of life, but Bangladesh’s third busiest airport. all around are a treasure trove of exotic for the tourist it can be an adventurous Biman Bangladesh Airlines, United flora and fauna. The valley is dotted experience; put on your face guard and Airways (BD) Ltd. and domestic with haors (big natural depressions), be part of the team (to watch only) that flights with GMG Airlines, are the which in winter are stretches of green, collects honey from the combs. main operators.

Opportunity Bangladesh 51 Congratulations & Best Wishes to Bangladesh on your 42nd Anniversary of Independence

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mustafa.indd 1 20/3/2013 6:47:48 PM tourism

Sylhet is the tea district of Bangladesh and boasts of three of the largest tea gardens in the world in dimension and production.

Though Sylhet town has its share Lawacherra Rain Forest of shrines and other elements of a city Lawacherra Rain Forest is a must tour, you should not miss these must see for bird watchers, though you can destinations, a little way off. see various tropical flora and fauna. The Chloroform Tree of Asia is a major attraction. This area is also home to the Khasi and Manipuri people famous for their rich cultural heritage expressed through music, dance and handicrafts.

Jaflong Jaflong is about 60 km far from Sylhet town. Famed for its scenic Madhabkunda Waterfall beauty of rolling tea gardens, Jaflong Madhabkunda Waterfall is an is by the side of the Mari River. hour’s journey from Sylhet and The river, which originates in the the way to the falls is one of the Himalayas, offers a spectacular prettiest, as it winds through the site of rolling stones and boulders green gardens. The falls are about that it has washed down from the 200ft in height and this is a great mountains. Enjoy the boating on the day-trip from Sylhet. A tourism river and the forests that surround it. department motel offers good food and accommodation. Manipuri Tribal Village While in Sylhet, one just cannot go without visiting a Manipuri Tribal Village. The indigenous tribes such as the Tipperas, the Monipuris, the Khasias and the Garos, who still continue their original lifestyles is soul-touching. During festivals such as, Rash Leela (full-moon night in February) and Doljatra (the festival of colours), young girls in colorful robes dance with the man of their choice and love. Plan your trip around Lala Khal Boat Trip February and March, so that you get to An half an hour drive from Sylhet feel the local culture. (Nazimgar) takes you to Lala Khal; the way from Nazimgar to Sarighat is beautiful. From Sarighat you can hire the boat for the trip down Lala Khal (a part of Sari River). The hills, greenery, coconut plantations and the crystal clear water make it an amazing experience. Nazimgar restaurant serves good food.

Bangladesh Government has created a new and colourful branding for the tourism sector – ‘Rupomoy Bangladesh’ (beautiful Bangladesh). Bangladesh is a melting pot of history, culture, natural beauty and tropical lushness that can attract both tourists and foreign investors and the government is making all efforts to capitalise on it.

Opportunity Bangladesh 53 Khana Basmati Restaurant Congratulations to Bangladesh and their people on their 41st Anniversary of Independence

No.1 Rowell Road, #01-01, Singapore 207955 | Tel: (65) 8438 0792

Khana Basmati Restaurant

Congratulations to Bangladesh and their people on their 42nd Anniversary of Independence

No.1 Rowell Road, #01-01, Singapore 207955 Tel: (65) 82841704 | Email: [email protected] bangladesh food Bangladesh - a Foodies’ Paradise

Getting to know the ‘mache bhate Bangali’ (a Bengali of fish and rice), is a journey of the senses, a riot of colour, texture, smell and taste

t is often said that greatly Fresh water fish is prevalent and pickles appreciate good food. And this is such as ‘satkorhai’ and ‘shatkora,’ which The Bengali way to Eat not an exaggeration. To buy the are not there in the rest of the country, A Bengali meal takes care of the Ibest fish and freshest vegetable in the adds a distinct flavour to food. fact that one has eaten too much and wet market early in the morning is Chittagong and Khagrachori, to the needs a digestive at the end. Each item an addiction which the ‘Bengali babu South and East are is typically taken with a little rice so (gentleman)’ cannot get out influenced byas to savour the individual flavours. of! Today’s generation Arakani cuisine It starts with a little ‘ghee’ on the hot may be doing it on the from Myanmar and rice, to be taken with a pinch of salt, weekend, unlike their Barisal, Chittagong followed by the bitter preparation, parents, for whom it and Khulna, being ‘shukto,’ usually a bitter-gourd-based was a daily ritual. The close to the sea use mixed vegetable, followed by lentils meal itself is more than fish, crabs and coconut or ‘dal,’ together with roasted or fried one-course affair, even the in their cuisine. ‘Shutki,’ vegetables (bhaja or bharta). Next daily fare. Celebrations are which is specially treated comes the lightly spiced vegetable, a naturally more elaborate. A sit- dry fish, is extremely popular ‘chenchki’ or ‘chorchori,’ followed by down meal is preferred, as courses in these areas. Chittagong also exports the heavily spiced ‘dalna’ or ‘ghonto,’ follow a pattern from start to end. shutki. Awadhi cuisine, first introduced followed by the fish of the day in any Bangladeshis are noted for their by Nawab Wajed Ali Shah, is the legacy form such as ‘kalia,’ ‘bhape,’ ‘tele’ love of fish. Delicious and nutritious is of Dhaka. Much of this is still visible in (mustard paste-based) and ‘jhole’ Hilsa, which is considered the national the old city, where dishes such as ‘biriani,’ (curry). Finally, the chicken, mutton fish of the country. It can be smoked, ‘mughlai porota’ and ‘bakorkhani’ are or beef, if it’s feast. ‘Chatni’ (a tangy fried, steamed, baked in young plantain made by specialty stores, many of which concoction) comes to clear the leaves, prepared with mustard seed have existed for over a century. palate together with crisp savoury paste, curd, Begun (eggplant), different wafers, ‘papad.’ Dessert is usually condiments like jira and so on. The fish Sweet Endings sweet yogurt ‘mishti doi.’ The meal roe is also a popular side dish. To eat the Bengali way and not to ends with the handing out of betel mention sweets is a sacrilege. Let’s leaf ‘pan,’ which will digest the over- Regional Variety start with the signature sweet dishes worked system! Bangladesh cuisine differs‘rosogolla’ and ‘misti doi’ (sweet distinctively as you travel from North to yoghurt). There was a time when (unripe boiled mango juice), ‘khejur South. Each region is influenced by the Bengali’s not living in Bangladesh rosh’ (date juice). neighbouring country and in the case of and West Bengal would carry special For fruits, mango is the ‘king of South Bangladesh by the sea. Rajshahi earthen pots full of mishti doi back for fruit’ in Bangladesh. There are so many and Shylet, to the North, are similar to friends and family. With globalisation varieties available and some of the Assam, Tripura and the Surma tribes. the romance of this has faded. ‘Sandesh’ better mangoes are the superior grafted (milk-based dessert), ‘firni’ (rice flour varieties whereas the local or Deshi aam cooked in milk), ‘Ros Malai’ (round is grown from seedlings. sweets floating in thick milk), ‘pitha’ Each has its own distinctive flavour. (special range of sweets made during Fazli, Lengra, Gopalbhog and Khisrapat the coming of winter), ‘payesh’ (a are considered to be the better varieties ceremonial milk, jiggery based dish) are which are relished as cut fruits but there some other specialities. are others that are used for making jam, While in Bangladesh do not miss jelly, squash, chutney, and pickle. The out on the unique beverages ‘ankher raw green mango is added to a dal or rosh’ (sugarcane juice), ‘ampanna’ curry to enhance the flavour.

Opportunity Bangladesh 55 in picture PHOTO FEATURE

H.E. Md. Zillur Rahman, Honourable President of Bangladesh visits Honourable Foreign Minister Dr. Dipu Moni, MP meets Singapore Singapore on 14-19 November 2012 Defence Minister Dr. Ng Eng Hen, 1 June 2012

H.E. Mahbub Uz Zaman calls on H.E. Dr. Tony Tan Keng Yam, H.E. Mahbub Uz Zaman visits parade in a cermonial programme the Honourable President of Singapore on 25 October 2012 during the presentation of credentials, 25 October 2012

H.E. Dr. Tony Tan Keng Yam, the Honourable President of Singapore Principal Secretary Shaikh Md. Wahid-uz-Zaman addressing the and H.E. Mahbub Uz Zaman with their wives on 25 October 2012 Bangladesh Trade & Investment Seminar organized by the High Commission, 8 March 2012

H.E. Masagos Zulkifli Honourable Senior Minister of State for Guests at the National Day Reception, 26 March 2012 Foreign & Home Affairs delivers his speech as the Guest of Honour during the National Day Reception, 26 March 2012

56 Opportunity Bangladesh in picture PHOTO FEATURE

A performance at the Bengali New Year celebrations, 15 April 2012 Expatriate Bangladeshis enjoying Bengali New Year Program organized by the High Commission, 15 April 2012

Dua & Munjajat on the occassion of the National Mourning Day, Bangladesh stall at the Red Cross International Bazzar, 21 October 15 August 2012 2012

H.E. Mahbub Uz Zaman delivers speech on the Victory Day, 16 High Commissioner Mahbub Uz Zaman reading out message of the December 2012 Honourable President of Bangladesh on the occassion of ‘Shaheed Dibash & International Mother Language Day’, 21 February 2013

Children participating the art competition organized on the occasion Artists performing at the Cultural Program organized by the High HE Kamrul Ahsan addresses the Singapore Indian Chamber of Com- of the 93rd Birth Anniversary of the Father of the Nation, 17 March Commission on the occassion of ‘Shaheed Dibash & International merce and Industry, 19 January 2012 Mother Language Day’, 21 February 2013 2013

Opportunity Bangladesh 57 country info Bangladesh Fact File

Bangladesh literally translates to ‘LAND of Bengal,’ in the official state language ‘Bangla.’ Covering the fertile Ganges-Brahmaputra Delta, this densely populated country instigated the process in the UN that led to the establishment of International Mother Language Day. It’s one of the most naturally beautiful countries that is developing fast and is slated to be one of the major economies of the next decade

Official name People’s Republic of Bangladesh PEOPLE EDUCATION and

Capital Population size HEALTH Dhaka 142.319 million (2011, BBS) Primary education Currency Compulsory and universal Taka (BDT) Language Bangla (5th most spoken language in School enrolment (%) the world, about 250 million people) Primary-100, Secondary-48.8, Geography Tertiary-7.5 (2010)

Area Main Religions Life expectancy at birth 55,598 sq miles (1,47,570 Sq.Km) Islam, Hinduism, Buddhism, 68.21 years (male), 71.98 years (female) Christianity (2012) Location South Asia, On three sides: Literacy rate (%) East, North & West –India, Male-Female Ratio 55.9 (UNDP 2011) South-East: Myanmar, South: 100: 100.3 (2011, BBS) Bay of Bengal ECONOMY Land boundary GOVERNANCE 4,246 km Size of GDP Head of State 100.00 billion US $ (2010-11) Bordering Countries President India: 4,053 km, Myanmar: 193 km Share of GDP Climate Head of Government Agriculture: 18.4%, Tropical: mild Winter (October to Prime Minister Industry: 28.6%, Services: 53% (2011) March); Summer (March to June); Rainy Monsoon (June to October)

Temperature High- 104 degrees (during summer) Fahrenheit, low 40 degrees (in winter)

Terrain Mostly flat alluvial plain; hilly in the South-East

Standard Time GMT +6 hours

58 Opportunity Bangladesh country info

SOCIAL aND LOGISTICS

Structure Liberal Democratic Society

Personality of people Warm and hospitable

Seaport Chittagong and Mongla

International Airports Dhaka, Chittagong and Sylhet Rate of GDP growth Imports-partners 6.3 % (2011) China 17.7%, India 12.5%, Domestic Airports Kuwait 7.9%, Singapore 5.5%, Jossore, Cox’s bazaar, Saidpur, Rajshahi Foreign Currency Reserve Hong Kong 4.1% (2006) and Barisal US$14.11 billion (2012) Agriculture-products Radio and Television Current Account Balance Rice, Jute, Tea, Wheat, Sugarcane, Transmission covers the entire country. US$952 million (2007-08) Potatoes, Tobacco, Pulses, Oilseeds, Numerous private channels are in Spices, Fruits, Beef, Milk, Poultry. operation. Per capita GDP US$848 (2011-2012) Industries Telephone per 100 people (BBS: 2010) Garments, Spinning, Ship building, Land phone- 2.07 Per capita National income Textiles, Jute, Tea processing, Sugar, Cell phone- 63.74 US$750 (2011) Newsprint, Cement, Fertilizer, Light engineering, Ceramic, Fish processing, Internet Domestic savings IT solutions, Pharmaceuticals. Broadband, easily available, connected 18.99 (as % of GDP, 2009-10) to submarine cable Market size National savings Conservative estimate of a growing Popular sports 28.75 (as % of GDP, 2009-10) middle class of 30 million people (15- Football, Cricket, Hockey, Kabadi, 20% of total pop.), bigger than Malaysia, Swimming, Chess Total investment Brunei & Singapore combined. 24.96 (Public-4.77, Private-20.19) Tourist attraction (as % of GDP, 2009-10) Endowment World’s longest unbroken 120 km, sea- In addition to huge reserve of natural beach of Cox’s Bazar, colourful tribal Foreign Direct Investment gas, Bangladesh has a pool of easily life of hill tracts, centuries old historical trainable human resources. Cost of sites. (Some are pilgrimage of Buddhists, US $.913 Billion (2010) operation, both in terms of tariffs and Hindus etc.) at Dhaka, Paharpur, wages, is one of the lowest in the world. Mainamati, Mohastangar; Sundarbans- Total investments in EPZs the home of the Royal Bengal Tiger and 1935.86 million US $ (2011) largest mangrove forest in the world (a world heritage site), Beautiful Tea Export earnings Gardens, River life, etc US $ 16 billion (2009-10)

Exports-commodities INVESTMENT Ready Made Garments (RMG), Leather, Frozen Fish, Sea Food, Board of Investment (BOI) Pharmaceuticals, Cements, Jute and Prime Minister Office Jute Goods, etc. Jiban Bima Tower (19th Floor) 10 Dilkusha C/A, Dhaka-1000 Exports-partners General Line: (88 02) 716 9580 US 24.9%, Germany 12.8%, Email: [email protected] UK 9.8%, France 5% (2006) Web: www.boi.gov.bd

Opportunity Bangladesh 59 country info

Executive Chairman Executive Member (R&I-1, Industrial Director (Strategy & Program) Tel: (88 02) 9559378, 9563566, 716 & Commercial, Communication) Tel: (88 02) 7168372 9580 (Ex-1901 / PA-1904) Tel: (88 02) 9563570 Fax: (88 02) 9562312 Fax: (88 02) 9562312 Fax: (88 02) 9562312 Email: [email protected] Email: [email protected] Email: [email protected]

Secretary Director (Foreign Investment, Director (IIMC) Tel: (88 02) 9563572, 716 9580 Industry) Tel: (88 02) 9552089 (Ex-1909 / PA-1959) Tel: (88 02) 9552426 Fax: (88 02) 9562312 Fax: (88 02) 9562312 Fax: (88 02) 9562312 Email: [email protected] Email: [email protected] Email: [email protected]

Executive Member (R&I-2, S&P, Director (Communication) Services) Executive Member (Policy & Tel: (88 02) 9552518 Tel: (88 02) 7172144, 716 9580 Planning, IIMC, Industrial Park) (Ex-1913 / PA-1953) Tel: (88 02) 9562414 Fax: (88 02) 9562312 Fax: (88 02) 9562312 Fax: (88 02) 9562312 Email: [email protected] Email: [email protected] Email: [email protected] Director (Services) Director (Local Investment) Director (Policy & Planning) Tel: (88 02) 9551644 Tel: (88 02) 9552097 Tel: (88 02) 9551432 Fax: (88 02) 9562312 Fax: (88 02) 9562312 Fax: (88 02) 9562312 Email: [email protected] Email: [email protected] Email: [email protected]

Beyond the facts, to know Bangladesh more intimately Naksi Kantha and Dhakai Jamdani A traditional art of rural Bangladesh, Nakshi (artistic pattern) is embroidery work on Kantha (quilt). This folk art, which was originally done on old cloth to make quilts and covers, has survived the centuries and has metamorphosed into one of the finest works of art, replicated on yards of silk and cotton and used as sarees (traditional dress of Bangladesh) and other dresses. The history of Dhakai Muslin or Dhaka Jamdani is more ancient than the history of Dhaka town itself! Of the traditional Dhakai Muslins (a fine fabric which became famous during the Mughal period), Jamdani has survived to the modern day. In high demand, Dhakai Jamdani is Bangladesh’s finest example of artistic work and export item.

Sunderaban Wildlife Sanctuaries The Sundarbans mangrove forest, one of the largest such forests in the world is formed at the delta of the Ganges, Brahmaputra and Meghna rivers on the Bay of Bengal. Total area of the entire Sundarbans is about one million ha and 60 per cent of this is in Bangladesh. A World Heritage Site, it is intersected with complex network of tidal waterways, mud flats and small islands of salt tolerant mangrove forests.

Bangladesh’s Cox’s Bazar The best of sea, sand and sun, Bangladesh’s Cox’s Bazar with more than 100 km (62.5 miles) of sand, has the world’s longest uninterrupted natural beach. According to BBCs News Asia coverage in Dec 2012, Bangladeshi government’s new plans to put the country on the international tourist map, centres around this natural wonder. With pristine beaches, swaying palms and tropical wellness it has all the ingredients to make it an ideal holiday destination.

60 Opportunity Bangladesh Congratulations to the government and people of Bangladesh on your nd Anniversary of 42 Independence

Best wishes from the National University Hospital, Singapore

The National University Health System (NUHS) was established in January 2008 and consists of the National University Hospital (NUH), National University of Singapore’s Yong Loo Lin School of Medicine and Faculty of Dentistry. As Singapore’s first Academic Medical Centre (AMC), we aim to bring together the tripartite mission of excellence in clinical care, translational clinical research and education.

The NUH is a tertiary referral centre for a comprehensive range of medical, surgical and dental specialties and it also houses the national centres of Cardiology (National University Heart Centre, Singapore) and Oncology (National University Cancer Institute, Singapore). The Hospital also provides full organ transplant programmes for both children and adults (in kidney, liver and pancreas) and is the only hospital in Singapore with separate adult and paediatric emergency care facilities.

In 2004, the NUH became the first Singapore hospital to receive the Joint Commission International (JCI) accreditation, an international stamp for excellent clinical practices in patient care and safety. Full JCI accreditation was achieved again in August 2010.

Staffed by a team of healthcare professionals who rank among the best in the field, the NUHS offers quality patient care by embracing innovations and advances in medical treatment.

Members of the NUHS Group

www.nuh.com.sg www.ncis.com.sg www.nuhcs.com.sg

International Patient Liaison Centre (IPLC) 24-Hour Helpline: (65) 6779 2777 Email: [email protected]

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